Mitessh Thakkar of mitesshthakkar.com recommends buying Bharat Electronics with a stop loss of Rs 94 and target of Rs 102 and Tata Chemicals with a stop loss of Rs 599 and target of Rs 646.
Benchmark indices were dragged down by profit booking on May 21, a day after clocking strong gains on the back on exit polls for Lok Sabha Election 2019.
The Sensex closed down 382.87 points at 38,969.80, while Nifty ended 119.20 points lower at 11,709.10. About 970 shares advanced, 1,560 shares declined, and 160 shares remained unchanged.
Tata Motors, BPCL, Zee Entertainment, IndusInd Bank and Adani Ports were the top losers on the Nifty, while gainers were Dr Reddy’s Labs, Bharti Infratel, Britannia Industries, Titan Company and Reliance Industries.
All the sectoral indices ended in the red led by auto, bank, pharma, energy, infra, metal, energy and IT.
According to the Pivot charts, the key support level is placed at 11,633.43, followed by 11,557.77. If the index starts moving upward, key resistance levels to watch out are 11,834.13 and 11,959.17.
The Nifty Bank index closed at 30,308.4, down 451.3 points on May 21. The important Pivot level, which will act as crucial support for the index, is placed at 30,073.43, followed by 29,838.46. On the upside, key resistance levels are placed at 30,735.03, followed by 31,161.66.
In an interview to CNBC-TV18, top market experts recommend which stocks to bet on for good returns:
Sudarshan Sukhani of s2analytics.com
Buy Titan Company with stop loss at Rs 1238 and target of Rs 1260
Buy Reliance Industries with stop loss at Rs 1320 and target of Rs 1360
Buy Colgate Palmolive with stop loss at Rs 1151 and target of Rs 1171
Buy State Bank of India with stop loss at Rs 328 and target of Rs 352
Buy HDFC with stop loss at Rs 2080 and target of Rs 2150
Disclosure: Reliance Industries Ltd. is the sole beneficiary of Independent Media Trust which controls Network18 Media & Investments Ltd.
Mitessh Thakkar of mitesshthakkar.com
Buy Bharat Electronics with a stop loss of Rs 94 and target of Rs 102
Buy Tata Chemicals with a stop loss of Rs 599 and target of Rs 646
Sell Tata Elxsi with a stop loss of Rs 852 and target of Rs 820
Buy Bajaj Electricals with a stop loss of Rs 550 and target of Rs 580
Prakash Gaba of prakashgaba.com
Buy Prestige Estates with target at Rs 274 and stop loss at Rs 257
Buy Petronet LNG with target at Rs 248 and stop loss at Rs 236
Sell Hindustan Zinc with target at Rs 248 and stop loss at Rs 261
Sell Wipro with target at Rs 280 and stop loss at Rs 290Disclaimer: 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.The Great Diwali Discount!
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