Moneycontrol News
Benchmark indices closed the first session of the new year 2019 on a positive note on January 1 with gains of around half a percent driven by banking & financials stocks.
The 30-share BSE Sensex rose 186.24 points to 36,254.57 while the 50-share NSE Nifty gained 47.60 points to close at 10,910.10 in the absence of global cues.
After opening higher the index immediately slipped into the red and continued to trade in a narrow range, but gained strength in the last hour to climb above 10,900 levels. It formed 'Hammer' kind of pattern on the daily charts.
According to Pivot charts, the key support level is placed at 10,836.93, followed by 10,763.77. If the index starts moving upward, key resistance levels to watch out are 10,953.43 and then 10,996.77.
The Nifty Bank index closed at 27,392.40, up 232.20 points on January 1. The important Pivot level, which will act as crucial support for the index, is placed at 27,130.8, followed by 26,869.2. On the upside, key resistance levels are placed at 27,542.3, followed by 27,692.2.
In an interview to CNBC-TV18, top market experts recommend which stocks to bet on for good returns:
Ashwani Gujral of ashwanigujral.com
Buy Bank of Baroda wih a stop loss of Rs 120, target of Rs 131
Buy Indian Bank with a stop loss of Rs 245, target of Rs 262
Buy State Bank of India with a stop loss of Rs 295, target of Rs 310
Sell Mahindra & Mahindra with a stop loss of Rs 780, target of Rs 745
Sell Hindustan Unilever with a stop loss of Rs 1815, target of Rs 1770
Sudarshan Sukhani of s2analytics.com
Buy Tech Mahindra with stop loss at Rs 710 and target of Rs 735
Buy Strides Pharma Science with stop loss at Rs 460 and target of Rs 474
Buy BPCL with stop loss at Rs 362 and target of Rs 376
Buy HDFC Bank with stop loss at Rs 2130 and target of Rs 2175
Sell NMDC with stop loss at Rs 97 and target of Rs 93
Mitessh Thakkar of mitesshthakkar.com
Buy Escorts with a stop loss of Rs 706 and target of Rs 745
Buy HDFC with a stop loss of Rs 1982 and target of Rs 2060
Buy HDFC Bank with a stop loss of Rs 2132 and target of Rs 2185
Buy Indian Bank with a stop loss below Rs 245 and target of Rs 264
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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