Sudarshan Sukhani of s2analytics.com recommends buying HDFC Bank with stop loss at Rs 2100 and target of Rs 2140, Reliance Industries with stop loss at Rs 1115 and target of Rs 1150 and LIC Housing Finance with stop loss at Rs 480 and target of Rs 495.
Benchmark indices snapped a three-day losing streak on January 15 and closed sharply higher, driven by rate cut hopes after inflation declined and Asian peers rallied.The 30-share BSE Sensex gained 464.77 points or 1.30 percent and closed at 36,318.33 while the Nifty 50 climbed 149.20 points or 1.39 percent to end at
10,886.80, forming the bullish candle on daily charts.
India VIX fell by 3.59 percent to 15.58 levels. Volatility has to cool down further to get a decisive range breakout.
According to Pivot charts, the key support level is placed at 10,810.53, followed by 10,734.27. If the index starts moving upward, key resistance levels to watch out are 10,930.03 and then 10,973.27.
The Nifty Bank index closed at 27,400.8, up 152.50 points on January 15. The important Pivot level, which will act as crucial support for the index, is placed at 27,329.4, followed by 27,258. On the upside, key resistance levels are placed at 27,459.9, followed by 27,519.
In an interview to CNBC-TV18, top market experts recommend which stocks to bet on for good returns:
Ashwani Gujral of ashwanigujral.com
Buy BEML with a stop loss of Rs 900, target of Rs 935
Buy Manappuram Finance with a stop loss of Rs 96, target of Rs 104
Buy Piramal Enterprises with a stop loss of Rs 2300, target of Rs 2450
Buy Reliance Industries with a stop loss of Rs 1120, target of Rs 1150
Buy TCS with a stop loss of Rs 1850, target of Rs 1900
Disclaimer: Reliance Industries Ltd. is the sole beneficiary of Independent Media Trust which controls Network18 Media & Investments Ltd.
Sudarshan Sukhani of s2analytics.com
Buy HDFC Bank with stop loss at Rs 2100 and target of Rs 2140
Buy Reliance Industries with stop loss at Rs 1115 and target of Rs 1150
Buy LIC Housing Finance with stop loss at Rs 480 and target of Rs 495
Buy Hindustan Unilever with stop loss at Rs 1765 and target of Rs 1810
Sell Tata Steel with stop loss at Rs 480 and target of Rs 466
Mitessh Thakkar of mitesshthakkar.com
Buy Bharat Forge with a stop loss of Rs 480 and target of Rs 500
Buy Cummins India with a stop loss below Rs 859 for target of Rs 910
Sell Voltas with a stop loss of Rs 543.5 and target of Rs 507
Buy Info Edge India with a stop loss of Rs 1630 and target of Rs 1800Disclaimer: 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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