Mitessh Thakkar of mitesshthakkar.com recommends buying Dr Reddy's Labs with a stop loss of Rs 2592 and target of Rs 2680, Lupin with a stop loss of Rs 851.5 and target of Rs 890 and Finolex Industries with a stop loss of Rs 547 and target of Rs 585.
The Nifty50 opened flattish and remained in narrow range of 50 points for most part of the session in the absence of any fresh news or triggers from both domestic and global markets. The index closed flat and formed 'Doji' kind of pattern on the daily charts.
The Nifty50 after opening marginally higher at 10,899.65 hit an intraday high of 10,928.15 and low of 10,876.90. The index closed at 10,890.30, up 3.50 points over previous close.
"It appears to be a day of consolidation on the bourses as Nifty50 moved in a narrow range of 51 points and registered an indecisive formation called Doji before signing off the session," Mazhar Mohammad, Chief Strategist – Technical Research & Trading Advisory, Chartviewindia.in told Moneycontrol.
India VIX moved up by 3.19 percent at 16.07 levels. Volatility has to cool down further to get a decisive range breakout.
On the option front, maximum Put open interest (OI) is at 10,500 followed by 10,700 strike while maximum Call OI is at 11,000 followed by 11,200 strike.
Put writing is at 10,900 strike while Call unwinding is at most of the immediate strikes with minor Call writing at 11,200 strike. Option band signifies a higher shift in trading range in between 10,750 to 11,000 zones.
In an interview to CNBC-TV18, top market experts recommend which stocks to bet on for good returns:
Ashwani Gujral of ashwanigujral.com
Buy Adani Ports with a stop loss of Rs 384, target of Rs 412
Buy NIIT Tech with a stop loss of Rs 1195, target of Rs 1240
Buy Union Bank of India with a stop loss of Rs 94, target of Rs 102
Buy Bank of India with a stop loss of Rs 103, target of Rs 110
Buy Indiabulls Housing Finance with a stop loss of Rs 820, target of Rs 860
Sudarshan Sukhani of s2analytics.com
Buy Adani Ports with stop loss at Rs 385 and target of Rs 395
Buy ICICI Bank with stop loss at Rs 370 and target of Rs 381
Buy Havells India with stop loss at Rs 674 and target of Rs 693
Buy Ramco Cements with stop loss at Rs 628 and target of Rs 643
Sell Ceat with stop loss at Rs 1250 and target of Rs 1210
Mitessh Thakkar of mitesshthakkar.com
Buy Dr Reddy's Labs with a stop loss of Rs 2592 and target of Rs 2680
Buy Lupin with a stop loss of Rs 851.5 and target of Rs 890
Buy Finolex Industries with a stop loss of Rs 547 and target of Rs 585
Buy ITC with a stop loss of Rs 288 and target of Rs 308Disclaimer: 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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