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

Mitesh Thakkar of recommends buying Century Textiles with a stop loss of Rs 503 for target of Rs 525 and Ramco Cement with a stop loss of Rs 804 for target of Rs 845.

January 13, 2020 / 01:17 PM IST

Nifty50 touched the uncharted 12,300 territory but failed to hold onto the gains settling at 12,226.65, down 0.16 percent for the week ended January 10. The BSE Sensex closed the week 0.27 percent lower at 41,464.61.

Experts suggest that the volatility will only increase as we move closer to the Union Budget scheduled for February 1. October-December quarterly earnings will also play a major factor, they said.

Experts feel it would be major relief for global equity markets and the economy, which has been facing trade concerns for more than 16 months now.

According to the pivot charts, the key support level for Nifty is placed at 12,209.6 followed by 12,162.4. If the index moves up, key resistance levels to watch out for are 12,307.6 and 12,358.4.