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Last Updated : Oct 25, 2019 12:29 PM IST | Source: Moneycontrol.com

Top buy and sell ideas by Ashwani Gujral, Mitesh Thakkar, Prakash Gaba for short term

Ashwani Gujral of ashwanigujral.com recommends buying Tata Elxsi with a stop loss of Rs 750, target of Rs 775 and Pidilite Industries with a stop loss of Rs 1350, target of Rs 1410.

Benchmark indices erased all gains and ended lower on October 24. Nifty slipped below 11,600 due to selling in the banking and telecom sectors.

Telecom stocks suffered massive selloff after the Supreme Court rejected the telecom companies' definition of Adjusted Gross Revenue (AGR). This means telecom companies will have to pay up as much as Rs 92,642 crore to the government. Bank stocks also fell on concerns about their exposure to the beleaguered telecom companies.

Also, no landslide victory for BJP in Maharashtra and Haryana dented sentiment.

Close

Except for the Nifty Infra, all sectoral indices ended in the red led by the bank, metal, FMCG, pharma and auto. Market breadth was in favour of declines, with just 1,069 shares advancing against 1,367 that declined. 161 shares stayed unchanged.

According to the pivot charts, the key support level for the Nifty is placed at 11,518.33, followed by 11,454.07. If the index starts moving up, key resistance levels to watch out for are 11,663.23 and 11,743.87.

Nifty Bank ended lower by 357.85 points at 29,101.75 on October 24. The important pivot level, which will act as crucial support for the index, is placed at 28,837, followed by 28,566.1. On the upside, key resistance levels are placed at 29,536 and 29,964.1.

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

Ashwani Gujral of ashwanigujral.com

Buy Tata Elxsi with a stop loss of Rs 750, target of Rs 775

Buy Pidilite Industries with a stop loss of Rs 1350, target of Rs 1410

Buy IGL with a stop loss of Rs 368, target of Rs 390

Sell Biocon with a stop loss of Rs 250, target of Rs 235

Sell State Bank of India with a stop loss of Rs 268, target of Rs 252

Mitesh Thakkar of Miteshthakkar.com

Sell Bharti Infratel with a stop loss of Rs 245 for target of Rs 222

Buy Reliance Industries with a stop loss of Rs 1415 for target of Rs 1470

Sell Hindalco Industries with a stop loss of Rs 184.5 for target of Rs 173

Buy Torrent Pharma around Rs 1760 with stop loss of Rs 1739 for target of Rs 1800

Prakash Gaba of prakashgaba.com

Buy Motherson Sumi Systems with target at Rs 115 and stop loss at Rs 109

Sell Federal Bank with target at Rs 78 and stop loss at Rs 82

Sell Zee Entertainment with target at Rs 220 and stop loss at Rs 245

Buy Divis Labs with target of Rs 1800 and stop loss at Rs 1750

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.​

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First Published on Oct 25, 2019 09:12 am
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