Moneycontrol
Last Updated : Feb 04, 2019 01:44 PM IST | Source: Moneycontrol.com

Technical View | Top buy and sell ideas by Ashwani Gujral, Sudarshan Sukhani, Mitessh Thakkar for short term

Mitessh Thakkar of mitesshthakkar.com recommends buying Britannia Industries with stop loss of Rs 3204 and target of Rs 3350 and Divis Labs above Rs 1540 with stop loss of Rs 1524 and target of Rs 1575.

Moneycontrol News @moneycontrolcom

The Nifty trimmed its gains amid volatility and closed the last session of the week higher on February 1 after the government maintained its fiscal discipline, and provided stimulus to farmers and taxpayers through several schemes in its last Budget ahead of the general election 2019.

The index formed bullish candle on the daily charts, which resembles a 'shooting star' kind of pattern. For the weekly chart also, it formed a bullish candle.

A shooting star pattern is formed when the index comes under selling pressure as traders start booking profits at higher levels.

Considering the loss of 90 points from day's high, traders looked a bit cautious after the Interim Budget 2019 and ahead of Monetary Policy Committee meeting next week, experts said, adding 10,812 could be crucial level to watch out for.

According to Pivot charts, the key support level is placed at 10,810.3, followed by 10,726.9. If the index starts moving upward, key resistance levels to watch are 10,980.3 and then 11,066.9.

The Nifty Bank index closed at 27,085.9 on February 1. The important Pivot level, which will act as crucial support for the index, is placed at 26,833.17, followed by 26,580.43. On the upside, key resistance levels are placed at 27,435.87, followed by 27,785.83.

In an interview to CNBC-TV18, top market experts recommend which stocks to bet on for good returns:

Ashwani Gujral of ashwanigujral.com

Sell YES Bank with a stop loss of Rs 189, target of Rs 175

Sell Canara Bank with a stop loss of Rs 242, target of Rs 230

Buy HCL Tech with a stop loss of Rs 1030, target of Rs 1065

Buy Jubilant Foodworks with a stop loss of Rs 1345, target of Rs 1380

Sudarshan Sukhani of s2analytics.com

Buy United Breweries with stop loss at Rs 1425 and target of Rs 1470

Buy Larsen & Toubro with stop loss at Rs 1310 and target of Rs 1340

Buy Kajaria Ceramics with stop loss at Rs 538 and target of Rs 565

Sell Zee Entertainment with stop loss at Rs 357 and target of Rs 347

Sell Tata Chemicals with stop loss at Rs 678 and target of Rs 658

Mitessh Thakkar of mitesshthakkar.com

Sell Bajaj Finserv below Rs 6060 with stop loss of Rs 6125 and target of Rs 5900

Buy Britannia Industries with stop loss of Rs 3204 and target of Rs 3350

Buy Divis Labs above Rs 1540 with stop loss of Rs 1524 and target of Rs 1575

Sell Punjab National Bank with a stop loss of Rs 76 and target of Rs 70

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.​
First Published on Feb 4, 2019 08:41 am
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