Rajesh Agarwal of AUM Capital recommends buying Hero MotoCorp with stop loss at Rs 2890 and target of Rs 2960, Just Dial with stop loss at Rs 497 and target of Rs 528 and Siemens with stop loss at Rs 904 and target of Rs 975.
The Nifty 50 finally managed to decisively close above 10,600 levels on November 15 after consolidating for nine straight sessions. Gains were driven by banking & financials, auto and metals stocks.
The index closed 40.40 points higher at 10,616.70 and formed a small bullish candle on the daily charts.
Closing above 10,600 levels indicated it could rally further in the coming sessions, experts said.
India VIX fell 1.47 percent to 18.55 levels. However, VIX has to cool down below 16 zones to get the next leg of smooth upside rally in the market.
According to Pivot charts, the key support level is placed at 10,567.3, followed by 10,517.9. If the index starts moving upwards, key resistance levels to watch out are 10,656.3 and then 10,695.9.
The Nifty Bank index closed at 26,154.75, up 224.60 points on Thursday. The important Pivot level, which will act as crucial support for the index, is placed at 25,856.01, followed by 25,557.2. On the upside, key resistance levels are placed at 26,325.61, followed by 26,496.4.
Here are the top stock trading ideas which can give good returns in the near term:
Hadrien Mendonca of IIFL
Buy Maruti Suzuki with target at Rs 7950 and stop loss at Rs 7250
Buy Nestle India with target at Rs 11170 and stop loss at Rs 10075
Buy Titan Company with target at Rs 1005 and stop loss at Rs 879
Rajesh Agarwal of AUM Capital
Buy Hero MotoCorp with stop loss at Rs 2890 and target of Rs 2960
Buy Just Dial with stop loss at Rs 497 and target of Rs 528
Buy Siemens with stop loss at Rs 904 and target of Rs 975
Buy Godfrey Phillips India with stop loss at Rs 849 and target of Rs 892
Buy Bandhan Bank with stop loss at Rs 445 and target of Rs 478Disclaimer: 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.