Mitessh Thakkar of mitesshthakkar.com is of the view that one can buy Biocon with a stop loss of Rs 629 and target of Rs 670 and sell IndusInd Bank around Rs 1525 with stop loss of Rs 1550 and target of Rs 1480.
Benchmark indices ended the rangebound session on a negative note on January 11, with the Nifty50 closing a tad below the 10,800 levels and forming a 'Hammer' kind of pattern on the daily scale.
The 30-share BSE Sensex was down 96.66 points to close at 36,009.84 while the Nifty50 fell 26.65 points to 10,794.95.
For the week, however, the Nifty index gained 0.6 percent and formed a 'Doji' kind of pattern on the weekly scale.
The market is likely to consolidate further in the coming week followed by a directional move on either side which would largely depend upon earnings along with global factors, experts said.
India VIX fell by 5.01 percent at 15.35 in the last week and started to hold below 16 zones which could attract buying interest on declines.
The Nifty Midcap and Smallcap indices also lost 0.2 and 0.3 percent respectively on January 11, while both ended flat for the week.
According to the Pivot charts, the key support level is placed at 10,739.53, followed by 10,684.07. If the index starts moving upward, the key resistance levels to watch out are 10,850.33 and then 10,905.67.
The Nifty Bank index closed at 27,453.90, down 74.65 points on January 11. The important Pivot level, which will act as crucial support for the index, is placed at 27,353.4, followed by 27,252.9. On the upside, key resistance levels are placed at 27,583.4, followed by 27,712.9.
In an interview to CNBC-TV18, top market experts recommend which stocks to bet on for good returns:
Ashwani Gujral of ashwanigujral.com
Buy Indraprastha Gas with a stop loss of Rs 265, target of Rs 282
Buy NIIT Tech with a stop loss of Rs 1150, target of Rs 1185
Buy Biocon with a stop loss of Rs 637, target of Rs 660
Sell Maruti Suzuki with a stop loss of Rs 7400, target of Rs 7050
Sell Larsen & Toubro with a stop loss of Rs 1380, target of Rs 1345
Sudarshan Sukhani of s2analytics.com
Buy Ajanta Pharma with stop loss at Rs 1150 and target of Rs 1175
Buy Dabur India with stop loss at Rs 415 and target of Rs 430
Buy Havells India with stop loss at Rs 680 and target of Rs 700
Sell JSW Steel with stop loss at Rs 295 and target of Rs 280
Sell Zee Entertainment with stop loss at Rs 455 and target of Rs 442
Mitessh Thakkar of mitesshthakkar.com
Buy Biocon with a stop loss of Rs 629 and target of Rs 670
Sell IndusInd Bank around Rs 1525 with stop loss of Rs 1550 and target of Rs 1480
Sell Just Dial with a stop loss of Rs 485 and target of Rs 460
Buy MCX India with a stop loss of Rs 739.9 and target of Rs 784Disclaimer: 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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