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The bulls managed to gain the upper hand on Dalal Street after a tussle with the bears on Friday. The Nifty50 closed marginally higher amid consolidation and weak global cues, continuing the uptrend for the fourth consecutive session.
The 30-share BSE Sensex was up 33.29 points at 35,962.93, while the 50-share NSE Nifty managed to close above 10,800 levels, up 14 points at 10,805.50, forming a bullish candle which closely resembles a 'Hanging Man' pattern on daily charts.
For the week ended December 14, the Sensex gained 0.8 percent while the Nifty inched up by a percent, forming a robust bullish candle on the weekly charts.
The broader market outperformed as the BSE Midcap index rose 3.2 percent while the S&P BSE Smallcap index closed 2.8 percent higher.
According to Pivot charts, the key support level is placed at 10,766.47, followed by 10,727.43. If the index starts moving upwards, key resistance levels to watch out are 10,830.17 and then 10,854.83.
The Nifty Bank index closed at 26,826, up 9.65 points on December 14. The important Pivot level, which will act as crucial support for the index, is placed at 26,736.14, followed by 26,646.27. On the upside, key resistance levels are placed at 26,912.44, followed by 26,998.87.
In an interview to CNBC-TV18, top market experts recommend which stocks to bet on for good returns:
Sudarshan Sukhani of s2analytics.com
Buy Dabur India with stop loss at Rs 435 and target of Rs 452
Buy Havells India with stop loss at Rs 695 and target of Rs 725
Buy Infosys with stop loss at Rs 694 and target of Rs 720
Sell JSW Steel with stop loss at Rs 300 and target of Rs 285
Sell ICICI Prudential Life Insurance with stop loss at Rs 315 and target of Rs 305
Mitessh Thakkar of mitesshthakkar.com
Buy Bajaj Auto with a stop loss of Rs 2785 and target of Rs 2900
Buy NIIT Tech with a stop loss of Rs 1119 and target of Rs 1180
Buy Ujjivan Financial Services with a stop loss of Rs 235 and target of Rs 255
Buy Voltas with a stop loss of Rs 564 and target of Rs 610
Prakash Gaba of prakashgaba.com
Buy Berger Paints with target at Rs 330 and stop loss at Rs 316
Buy Federal Bank with target at Rs 95 and stop loss at Rs 88
Buy GAIL India with target at Rs 360 and stop loss at Rs 344
Buy NIIT Tech with target at Rs 1175 and stop loss at Rs 1110
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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