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The Nifty is now trading above its crucial short-term moving averages and today’s intraday low of 10,524 will be of big importance in the coming week, suggest experts. A break below this level could again put further pressure on the index amid expiry week volatility.
On the upside, the next target for the index is placed at 10,733 levels but bulls will be able to take full control of the index if it surpasses 10,929 which was recorded on May 15, 2018.
The Nifty which opened at 10,533 slipped marginally to hit an intraday low of 10,524. Bulls took control of the index and pushed Nifty above 10,600 to hit an intraday high of 10,628 before closing the day at 10,605, up 91 points.
According to Pivot charts, the key support level is placed at 10,543.47, followed by 10,481.73. If the index starts moving upward, key resistance levels to watch out are 10,647.47 and 10,689.73.
The Nifty Bank index closed at 26,273.6. The important Pivot level, which will act as crucial support for the index, is placed at 26,094.8, followed by 25,916.0. On the upside, key resistance levels are placed at 26,389.0, followed by 26,504.4.
Below are the top stocks which can be good bets in short term:
Dinesh Rohira of 5nance.com
Buy Jain Irrigation Systems with target at Rs 123 and stop loss at Rs 94
Buy Just Dial with target at Rs 575 and stop loss at Rs 480
Sell ITC with target at Rs 250 and stop loss at Rs 285
Prakash Gaba of prakashgaba.com
Buy Dabur India with target at Rs 385 and stop loss at Rs 374
Buy Exide Industries with target at Rs 266 and stop loss at Rs 252
Buy Hindalco Industries with target at Rs 255 and stop loss at Rs 237
Buy Page Industries with target at Rs 25500 and stop loss at Rs 23900
Rajesh Agarwal of AUM Capital
Buy Maruti Suzuki India with target at Rs 9030 and stop losss at Rs 8200
Buy Jindal Steel & Power with target at Rs 259 and stop loss at Rs 220
Buy Bajaj Auto with target at Rs 2878 and stop loss at Rs 2690
Buy Exide Industries with target at Rs 288 and stop loss at Rs 240
Buy CESC with target at Rs 1118 and stop loss at Rs 990
Ashwani Gujral of ashwanigujral.com
Buy Exide Industries with a stop loss of Rs 252, target of Rs 268
Buy Dabur India with a stop loss of Rs 374, target of Rs 390
Buy Pidilite Industries with a stop loss of Rs 1120, target of Rs 1180
Sell HCL Technologies with a stop loss of Rs 925, target of Rs 890
Sell BEML with a stop loss of Rs 975, target of Rs 940
Sudarshan Sukhani of s2analytics.com
Buy Tata Consultancy Services with stop loss at Rs 3550 and target at Rs 3720
Buy ICICI Bank with stop loss at Rs 289 and target at Rs 302
Buy Mahindra & Mahindra with stop loss at Rs 845 and target at Rs 875
Buy Hindustan Unilever with stop loss at Rs 1550 and target of Rs 1600
Sell Ramco Cements with stop loss at Rs 797 and target at Rs 765
Disclaimer: The views and investment tips expressed by investment experts on moneycontrol.com/CNBC-TV18 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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