Mitessh Thakkar of mitesshthakkar.com recommends buying Cummins India with a stop loss of Rs 812.5 and target of Rs 865, Mahanagar Gas with a stop loss of Rs 875 and target of Rs 950 and Power Grid with a stop loss of Rs 188 and target of Rs 202.
The Nifty 50 continued to gain for the fifth consecutive session and reclaimed 10,900 levels intraday on December 17, driven by buying across major sectors and positive Asian cues.
The 30-share BSE Sensex rallied 307 points to 36,270.07 while the Nifty 50 gained 82.90 points to close at 10,888.40, forming a bullish candle on the daily charts.
As the Nifty has reached the 10,800-10,900 zone, a bit of profit taking amid consolidation could be possible especially ahead of Federal Reserve's last policy meeting of the year, experts said.
India Volatility Index fell by 4.32 percent to 14.50 levels. VIX has seen a sharp cut of 32.50 percent in last five sessions which suggests now bulls are getting a grip on the market with the expectation of limited downside.
According to Pivot charts, the key support level is placed at 10,855.3, followed by 10,822.3. If the index starts moving upward, key resistance levels to watch out are 10,910.8 and then 10,933.3.
The Nifty Bank index closed at 27,015.80, up 189.80 points on December 17. The important Pivot level, which will act as crucial support for the index, is placed at 26,932.46, followed by 26,849.13. On the upside, key resistance levels are placed at 27,075.26, followed by 27,134.73.
In an interview to CNBC-TV18, top market experts recommend which stocks to bet on for good returns:
Sudarshan Sukhani of s2analytics.com
Buy Aurobindo Pharma with stop loss at Rs 734 and target of Rs 748
Buy HDFC Bank with stop loss at Rs 2110 and target of Rs 2155
Buy Britannia Industries with stop loss at Rs 3110 and target of Rs 3220
Sell Sun TV Network with stop loss at Rs 582 and target of Rs 560
Sell Reliance Infrastructure with stop loss at Rs 295 and target of Rs 280
Mitessh Thakkar of mitesshthakkar.com
Buy Cummins India with a stop loss of Rs 812.5 and target of Rs 865
Buy Mahanagar Gas with a stop loss of Rs 875 and target of Rs 950
Buy Power Grid with a stop loss of Rs 188 and target of Rs 202
Buy Ramco Cement with a stop loss of Rs 634 and target of Rs 670
Prakash Gaba of prakashgaba.com
Buy HDFC Bank with target at Rs 2150 and stop loss at Rs 2100
Buy Hindalco Industries with target at Rs 230 and stop loss at Rs 220
Buy IndusInd Bank with target at Rs 1670 and stop loss at Rs 1600
Buy ITC with target at Rs 285 and stop loss at Rs 175Disclaimer: 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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