Moneycontrol News
Dragged by index heavyweights, the market closed sharply lower on January 23. ITC was the leading contributor to the fall, losing more than 4 percent after its Q3 results missed analysts expectations.
The 30-share BSE Sensex was down 336.17 points at 36,108.47 while the Nifty50 fell 91.30 points to 10,831.50 and formed big bearish candle on the daily scale.
"The short term trend of Nifty is dicey. The overall chart pattern is now showing an indication of downside range breakout in Nifty," Nagaraj Shetti, Technical Research Analyst at HDFC Securities, told Moneycontrol.
All sectoral indices, barring metal and pharma, closed in the red. Nifty Bank, Auto, FMCG and IT indices were down 0.5-1.7 percent.
The broader markets outperformed frontliners as the Nifty Midcap and Smallcap indices were down only 0.11 percent and 0.28 percent respectively.
In an interview to CNBC-TV18, top market experts recommend which stocks to bet on for good returns:
Ashwani Gujral of ashwanigujral.com
Buy Sun TV with a stop loss of Rs 525, target of Rs 540
Sell United Spirits with a stop loss of Rs 585, target of Rs 560
Sell BHEL with a stop loss of Rs 71, target of Rs 64
Buy Petronet LNG with a stop loss of Rs 220, target of Rs 236
Buy Bata India with a stop loss of Rs 1145, target of Rs 1180
Sudarshan Sukhani of s2analytics.com
Buy Tech Mahindra with stop loss at Rs 710 and target of Rs 730
Sell Motherson Sumi with stop loss at Rs 160 and target of Rs 153
Sell Tata Motors with stop loss at Rs 183 and target of Rs 176
Sell NTPC with stop loss at Rs 143 and target of Rs 138
Buy Nestle India with stop loss at Rs 11220 and target off Rs 11450
Mitessh Thakkar of mitesshthakkar.com
Buy Tech Mahindra with a stop loss of Rs 713.5 and target of Rs 737
Sell Grasim Industries around Rs 785 with stop loss of Rs 801 and target of Rs 755
Sell BHEL with a stop loss of Rs 70.5 and target of Rs 66
Sell GSFC with a stop loss of Rs 109 and target of Rs 100
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.
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