Moneycontrol
Last Updated : Dec 05, 2018 01:24 PM IST | Source: Moneycontrol.com

Technical Views | Top buy & sell ideas by Ashwani Gujral, Sudarshan Sukhani, Mitessh Thakkar for short term

Sudarshan Sukhani of s2analytics.com recommends selling Axis Bank with stop loss at Rs 627 and target of Rs 614, Syndicate Bank with stop loss at Rs 35.70 and target of Rs 33.30 and Jain Irrigation Systems with stop loss at Rs 67.05 and target of Rs 63.40.

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Benchmark indices snapped the six-day winning streak to close lower on December 4 as traders maintained a cautious stance ahead of the Monetary Policy Committee meeting scheduled on December 5.


A spate of events such as a meeting of the Organisation of the Petroleum Exporting Countries (OPEC) on December 6 and results of state elections in the country next week could keep investors wary, experts said. If the Nifty 50 decisively breaks 10,747 on the downside then there could be more selling pressure, they added.


After opening flat the Nifty 50 traded lower in a range of 57 points and closed 14.30 points lower at 10,869.50, forming small bearish candle resembling a 'Doji' kind of pattern on the daily charts.


According to Pivot charts, the key support level is placed at 10,838.2, followed by 10,806.9. If the index starts moving upward, key resistance levels to watch out are 10,895.9 and then 10,922.3.


The Nifty Bank index closed at 26,693.80, down 163.75 points. The important Pivot level, which will act as crucial support for the index, is placed at 26,611.14, followed by 26,528.47. On the upside, key resistance levels are placed at 26,810.14, followed by 26,926.47.

In an interview to CNBC-TV18, top market experts recommend which stocks to bet on for good returns: 

Ashwani Gujral of ashwanigujral.com

Buy BPCL with a stop loss of Rs 328, target of Rs 343

Buy Ujjivan Financial Services with a stop loss of Rs 226, target of Rs 240

Buy Bajaj Finance with a stop loss of Rs 2500, target of Rs 2650

Buy UPL with a stop loss of Rs 745, target of Rs 770

Buy HCL Tech with a stop loss of Rs 1020, target of Rs 1065

Sudarshan Sukhani of s2analytics.com

Sell Axis Bank with stop loss at Rs 627 and target of Rs 614

Sell Syndicate Bank with stop loss at Rs 35.70 and target of Rs 33.30

Sell Jain Irrigation Systems with stop loss at Rs 67.05 and target of Rs 63.40

Buy HCL Tech with stop loss at Rs 1020 and target of Rs 1070

Buy TVS Motor Company with stop loss at Rs 544 and target of Rs 570

Mitessh Thakkar of mitesshthakkar.com

Buy Aurobindo Pharma with a stop loss of Rs 809 and target of Rs 850

Sell Indraprastha Gas with a stop loss of Rs 263.5 and target of Rs 248

Sell Petronet LNG below Rs 211 with stop loss of Rs 216 for target of Rs 200

Buy Reliance Industries around Rs 1140 - 1145 with stop loss below Rs 1128 for target of Rs 1175

Disclosure: Reliance Industries Ltd. is the sole beneficiary of Independent Media Trust which controls Network18 Media & Investments Ltd.

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.​

First Published on Dec 5, 2018 08:27 am
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