The Nifty formed a bullish candle after forming a bearish candle on the daily candlestick charts on Tuesday. Investors are advised to remain neutral on markets and adopt a stock specific approach.
The index which opened at 10,693.35 rose to an intraday high of 10,766.25. It slipped below its 5-DEMA to hit an intraday low of 10,689.85. It finally closed 23.90 points higher at 10,741.70.
According to Pivot charts, key support level is placed at 10,698.93, followed by 10,656.17. If the index starts moving upwards, key resistance levels to watch out are 10,775.33 and 10,808.97.
The Nifty Bank index closed at 26,154.4. The important Pivot level, which will act as crucial support for the index, is placed at 25,998.3, followed by 25,842.2. On the upside, key resistance levels are placed at 26,258.5, followed by 26,362.6.
Here are the list of top stocks which are good buys that can give handsome gains:
Achin Goel of Bonanza Portfolio
Buy L&T Infotech with target at Rs 1,700 and stop loss at Rs 1,467
Buy Arvind with target at Rs 481 and stop loss at Rs 414
Buy ICICI Prudential Life Insurance with target at Rs 506 and stop loss at Rs 429
Prakash Gaba of prakashgaba.com
Buy Axis Bank with target at Rs 560 and stop loss at Rs 540
Buy MCX India with target at Rs 810 and stop loss at Rs 780
Buy Tata Motors DVR with target at Rs 205 and stop loss at Rs 191
Buy Tata Consultancy Services with target at Rs 3550 and stop loss at Rs 3460
Rajesh Agarwal of AUM Capital
Buy Goa Carbon with stop loss at Rs 755 and target at Rs 785
Buy Kansai Nerolac Paints with stop loss at Rs 503 and target at Rs 530
Buy AU Small Finance Bank with stop loss at Rs 680 and target at Rs 714
Buy Tata Motors DVR with stop loss at Rs 193 and target at Rs 204
Buy Jindal Steel & Power with stop loss at Rs 255 and target at Rs 272
Disclaimer: The views and investment tips expressed by investment experts on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
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