Buy Zee Entertainment, IGL for Short-Term Gains: Sanjeev Bhasin

The Nifty may continue to see range-bound trade as heavyweight large cap stocks look exhausted. The action now seems to be in the broader market with improvement in breadth and sector-stock outperformance.

For today, we are suggesting an index play for relative gains,

Buy Bank Nifty futures at 16230-16300, stop loss 16000, target 16750

Sell Nifty futures at 8130-8150, stop loss 8250, target 8020

The following stocks could do well from a one-month perspective,

1) Buy Zee Entertainment: 290-295, stop loss 283, target 315

2) Buy IGL: 408-413, stop loss 394, target 432

3) Buy BL Kashyap: 13-13.5, stop loss 11, target 18