Buy or Sell: Top stock trading ideas by Aditya Agarwal & Rajat Bose for May 4

The benchmark index Sensex gained 15 percent in the last 1-month. Moneycontrol tried to find out the stock which is in momentum trades and outperformed the benchmark index but still trading 70 percent below their 52-week high. From the BSE 500, 10 stocks make the cut. Data Source: ACE Equity.

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The Nifty50 closed tad below its crucial support placed at 10,680 which is also its 5-day exponential moving average (DEMA). The index opened at 10,720 and slipped to an intraday low of 10,647.45 to close 38 points lower at 10,679.

Formation of a bearish candle after a Bearish Belt Hold does not augur well for the bulls but as long as Nifty trades above 10,600 levels, bulls have nothing to fear, suggest experts. Investors can keep a stop below this level (10,600) for all the long positions.

According to Pivot charts, the key support level is placed at 10,644.6, followed by 10,609.5. If the index starts moving upwards, key resistance levels to watch out are 10,717.7 and 10,755.7.

The Nifty Bank index closed at 25,605.25, up 0.14 percent. The important Pivot level, which will act as crucial support for the index, is placed at 25,498.4, followed by 25,391.6. On the upside, key resistance levels are placed at 25,682.7, followed by 25,760.2.

Below are the top trading ideas by market experts which can give good returns today:

Aditya Agarwal of Way2Wealth Brokers

Buy ITC with target at Rs 320 and stop loss at Rs 266

Sell Voltas with target at Rs 570 and stop loss at Rs 665

Sell Jindal Steel & Power with target at Rs 218 and stop loss at Rs 264

Rajat Bose of rajatkbose.com

Buy ACC with stop loss below Rs 1529.80 and target at Rs 1551

Sell Asian Paints with stop loss above Rs 1216 and targets are Rs 1197 and Rs 1182

Buy Bharti Infratel with stop loss below Rs 320 while targets are Rs 332 and Rs 335

Sell Cadila Healthcare with stop loss above Rs 400.25 and targets are Rs 386 and Rs 382

Buy Container Corporation of India with stop loss below Rs 1339 while targets are Rs 1402 and Rs 1429

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.