Prakash Gaba of prakashgaba.com recommends buying Mahindra & Mahindra with target at Rs 675 and stop loss at Rs 650, Mahanagar Gas with target at Rs 875 and stop loss at Rs 854 and Tata Chemicals with target at Rs 653 and stop loss at Rs 630.
Nifty50 reclaimed 11,900 levels on June 27 morning but failed to hold on. The index closed flat amid consolidation on account of expiry of derivative contracts.
The BSE Sensex shed 230 points from day's high to close 5.67 points lower to 39,586.41 while the Nifty 50 slipped six points to 11,841.50, forming a bearish candle resembling a Shooting Star kind of pattern on daily charts with long upper shadow and closing near to its intraday lowest point.
According to the Pivot charts, the key support level is placed at 11,804.6, followed by 11,767.7. If the index starts moving upward, key resistance levels to watch out are 11,894.8 and 11,948.1.
The Nifty Bank closed at 31,269.50, up 107.15 points on June 27. The important Pivot level, which will act as crucial support for the index, is placed at 31,122, followed by 30,974.5. On the upside, key resistance levels are placed at 31,453.8, followed by 31,638.1.
In an interview to CNBC-TV18, top market experts recommend which stocks to bet on for good returns:
Ashwani Gujral of ashwanigujral.com
Buy Havells India with a stop loss of Rs 788, target of Rs 810
Buy Siemens with a stop loss of Rs 1280, target of Rs 1340
Buy HDFC with a stop loss of Rs 2180, target of Rs 2240
Buy IndusInd Bank with a stop loss of Rs 1430, target of Rs 1475
Buy Hindustan Unilever with a stop loss of Rs 1760, target of Rs 1810
Mitessh Thakkar of mitesshthakkar.com
Buy Lupin with a stop loss of Rs 748 and target of Rs 797
Buy Mahindra & Mahindra with a stop loss of Rs 647 and target of Rs 680
Sell Infosys with a stop loss of Rs 740 and target of Rs 712
Buy State Bank of India with a stop loss of Rs 355 and target of Rs 380
Prakash Gaba of prakashgaba.com
Buy Mahindra & Mahindra with target at Rs 675 and stop loss at Rs 650
Buy Mahanagar Gas with target at Rs 875 and stop loss at Rs 854
Buy Tata Chemicals with target at Rs 653 and stop loss at Rs 630
Buy Siemens with target at Rs 1325 and stop loss at Rs 1275Disclaimer: 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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