Ashwani Gujral of ashwanigujral.com recommends buying Adani Power with a stop loss of Rs 63, target of Rs 75 and Canara Bank with a stop loss of Rs 272, target of Rs 284.
The market consolidated and closed on a mixed note on July 9 after a steep fall in the previous two straight sessions. Traders now look for cues from June quarter earnings that began this week.
The BSE Sensex gained 10.25 points to close at 38,730.82 while Nifty 50 fell 2.70 points to 11,555.90 forming a small bullish candle resembling a Hammer kind of pattern on daily charts.
The Sensex recovered 295 points while Nifty 50 added 95 points from day's low to end flat.
The sectoral trend was mixed with Nifty Pharma index rising 2.7 percent and Realty 2.8 percent while FMCG and IT declining nearly a percent each. The Nifty Midcap and Smallcap indices outperformed frontliners, rising 0.4 percent each.
According to Pivot charts, the key support level is placed at 11,483.77, followed by 11,411.63. If the index starts moving upward, the key resistance levels to watch out are 11,605.27 and 11,654.63.
Nifty Bank closed at 30,569.15, down 34.70 points on July 9. The important Pivot level, which will act as crucial support for the index, is placed at 30,376.57, followed by 30,183.93. On the upside, key resistance levels are placed at 30,731.97, followed by 30,894.73.
In an interview to CNBC-TV18, top market experts recommend which stocks to bet on for good returns:
Ashwani Gujral of ashwanigujral.com
Buy Adani Power with a stop loss of Rs 63, target of Rs 75
Buy Canara Bank with a stop loss of Rs 272, target of Rs 284
Sell Coal India with a stop loss of Rs 235, target of Rs 220
Sell UPL with a stop loss of Rs 645, target of Rs 630
Mitessh Thakkar of mitesshthakkar.com
Buy CESC with a stop loss of Rs 774 and target of Rs 808
Sell HDFC Bank with a stop loss of Rs 2396 and target of Rs 2345
Sell Bata India with a stop loss of Rs 1415 and target of Rs 1345
Buy Amara Raja Batteries with a stop loss of Rs 633 and target of Rs 666
Prakash Gaba of prakashgaba.com
Buy Ambuja Cements with target at Rs 216 and stop loss at Rs 207
Buy Lupin with target at Rs 765 and stop loss at Rs 735
Sell Maruti Suzuki with target at Rs 5800 and stop loss at Rs 6050
Sell Nestle India with target at Rs 11450 and stop loss at Rs 11765Disclaimer: 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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