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.
The important pivot level, which will act as crucial support for the index, is placed at 31,918.13 followed by 31,738.87. On the upside, key resistance levels are placed at 32,311.93 and 32,526.46.
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 Global Beverage with stop loss of Rs 335, target of Rs 350
Buy Sun TV Network with a stop loss of Rs 458, target of Rs 474
Buy Tata Chemicals with a stop loss of Rs 684, target of Rs 710
Buy Prestige Estates with a stop loss of Rs 325, target of Rs 342
Buy Kotak Mahindra Bank with a stop loss of Rs 1670, target of Rs 1720
Buy TCS with a stop loss of Rs 2200, target of Rs 2265
Mitesh Thakkar of miteshthakkar.com
Buy Century Textiles with a stop loss of Rs 503 for target of Rs 525
Buy Ramco Cement with a stop loss of Rs 804 for target of Rs 845
Buy ACC with a stop loss of Rs 1489 for target of Rs 1550
Sell Britannia Industries below Rs 2975 with stop loss of Rs 3002 for target of Rs 2925
Prakash Gaba of prakashgaba.com
Buy Adani Enterprises with target at Rs 217 and stop loss at Rs 207
Buy Dabur India with target at Rs 480 and stop loss at Rs 462
Buy Hindustan Unilever with target at Rs 1990 and stop loss at Rs 1940
Buy Mahindra & Mahindra with target at Rs 568 and stop loss at Rs 541
Disclaimer: The views and investment tips expressed by investment experts on moneycontrol.com 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.
