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.
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 70Disclaimer: 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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