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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.

December 05, 2018 / 13:24 IST
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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

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