Ashwani Gujral of ashwanigujral.com recommends buying Manappuram Finance with a stop loss of Rs 94, target of Rs 106, Siemens with a stop loss of Rs 1055, target of Rs 1100 and ICICI Bank with a stop loss of Rs 375, target of Rs 390.
The market snapped four-day winning streak as the benchmark indices closed lower amid consolidation on Thursday, driven by subdued global cues. But the Nifty50 managed to respect 10,800 levels.
The 30-share BSE Sensex fell 106.41 points to 36,106.50 while the Nifty50 lost 33.60 points to 10,821.60, forming 'Bearish Belt Hold' pattern on the daily charts.
After current consolidation, experts expect the market to move on positive side with Nifty likely reclaiming 11,000 levels soon.
Overall participants preferred to sit on sidelines in absence of fresh domestic trigger and caution ahead of TCS results announced after market hours on Thursday. Mostly sectoral indices traded in tandem with the benchmark index and settled marginally lower.
According to Pivot charts, the key support level is placed at 10,795.83, followed by 10,770.07. If the index starts moving upward, key resistance levels to watch out are 10,853.33and then 10,885.07.
The Nifty Bank index closed at 27,528.6. The important Pivot level, which will act as crucial support for the index, is placed at 27,440.0, followed by 27,351.4. On the upside, key resistance levels are placed at 27,665.4, followed by 27,802.2.
In an interview to CNBC-TV18, top market experts recommend which stocks to bet on for good returns:
Ashwani Gujral of ashwanigujral.com
Buy Manappuram Finance with a stop loss of Rs 94, target of Rs 106
Buy Siemens with a stop loss of Rs 1055, target of Rs 1100
Buy ICICI Bank with a stop loss of Rs 375, target of Rs 390
Buy State Bank of India with a stop loss of Rs 300, target of Rs 321
Buy Axis Bank with a stop loss of Rs 658, target of Rs 680
Mitessh Thakkar of mitesshthakkar.com
Buy Arvind with a stop loss of Rs 96.7 and target of Rs 103
Buy MCX India with a stop loss of Rs 738.5 and target of Rs 775
Buy Max Financial Services with a stop loss of Rs 446 and target of Rs 481
Sell Mindtree with a stop loss of Rs 826 and target of Rs 785
Prakash Gaba of prakashgaba.com
Buy Bajaj Auto with target at Rs 2750 and stop loss at Rs 2685
Buy Divis Labs with target at Rs 1550 and stop loss at Rs 1490
Buy NCC with target at Rs 98 and stop loss at Rs 90
Sell Bharat Heavy Electricals with target at Rs 67 and stop loss at 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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