Buy Axis Bank, Wockhardt, JSW Energy: Jay Thakkar

Jay Thakkar, senior technical analyst at Sharekhan, expects the Nifty to rally till 8,100 as a medium-term bottom is in place at 7,540. The Nifty can head towards 8,225 once 8,100 is taken out, he added. (Watch)

Stock Talk:

Buy Axis Bank: It has formed a good set up on the technical charts, targets of Rs 555 to Rs 580 possible in short term.

Avoid Idea Cellular: There is not much upside left in the stock after recent move. The counter will see some more consolidation for two or more quarters.

Avoid Bharti Infratel: The stock has given a negative quarterly closing after two years of positive returns. Downtrend in the stock has already begun. The stock may go back to Rs 309-Rs 270 levels. One can buy the stock for long term at Rs 309-Rs 270 levels, but it is an “avoid” for the short term.

Buy Wockhardt: Bullish on the stock on medium to long term perspective. The stock has started forming higher tops and higher bottoms on daily charts. In 2-3 years, the stock can show levels of Rs 4,500-Rs 5,000.

Avoid IDBI Bank: There is still no evidence of bottom formation despite sharp bounce-back. Would like to wait and watch before recommending buy on the stock.

Buy JSW Energy: The stock looks good for the short term but for the long term it does not look good. It has given a break out from the head and shoulder pattern, which is positive for short term. One can buy the stock with a stop loss of Rs 83 and target of Rs 105.