Mitessh Thakkar of mitesshthakkar.com suggests buying Apollo Hospitals with a stop loss below Rs 1229 and target of Rs 1295 and advises selling Arvind with a stop loss of Rs 314 and target of Rs 296 and CESC with a stop loss of Rs 687 and target of Rs 651.
After a correction amid volatility in early trade, the Nifty 50 managed to gain strength and closed above crucial 10,600 levels on November 26. It was a strong reversal amid a sharp decline in crude oil prices and firm global cues after a 1.5 percent fall in last week.
The index formed a bullish candle, which resembles a 'Hammer' kind of pattern on the daily charts.
The 50-share NSE Nifty closed 101.80 points or 0.97 percent higher at 10,628.60 while the 30-share BSE Sensex gained 373.06 points or 1.07 percent at 35,354.08.
The market showed a smart recovery but has been rangebound and the same is expected to continue for a couple of weeks, experts said, adding the rally is only possible if the Nifty crosses 10,774 levels.
According to Pivot charts, the key support level is placed at 10,533, followed by 10,437.4. If the index starts moving upwards, key resistance levels to watch out are 10,681 and then 10,733.4.
The Nifty Bank index closed at 10,733.4, up 366.15 points on Monday. The important Pivot level, which will act as crucial support for the index, is placed at 26,128.26, followed by 25,890.93. On the upside, key resistance levels are placed at 26,499.76, followed by 26,633.93.
In an interview to CNBC-TV18, top market experts recommend which stocks to bet on for good returns:
Ashwani Gujral of ashwanigujral.com
Buy State Bank of India with a stop loss of Rs 282, target of Rs 296
Buy Jubilant Foodworks with a stop loss of Rs 1200, target of Rs 1245
Buy Apollo Hospitals with a stop loss of Rs 1235, target of Rs 1290
Buy PVR with a stop loss of Rs 1400, target of Rs 1510
Buy ICICI Bank with a stop loss of Rs 350, target of Rs 372
Sudarshan Sukhani of s2analytics.com
Sell Ceat with stop loss of Rs 1245 and target of Rs 1200
Sell Indiabulls Housing Finance with stop loss at Rs 720 and target of Rs 680
Buy Asian Paints with stop loss at Rs 1330 and target of Rs 1380
Buy Maruti Suzuki with stop loss at Rs 7450 and target of Rs 7700
Buy V-Guard Industries with stop loss at Rs 196 and target of Rs 206
Mitessh Thakkar of mitesshthakkar.com
Buy Apollo Hospitals with a stop loss below Rs 1229 and target of Rs 1295
Sell Arvind with a stop loss of Rs 314 and target of Rs 296
Sell CESC with a stop loss of Rs 687 and target of Rs 651
Buy Axis Bank above Rs 634 with stop loss of Rs 626.5 and target of Rs 650Disclaimer: 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.