Ashwani Gujral of ashwanigujral.com recommends buying HDFC with a stop loss of Rs 2240, target of Rs 2300 and Dr Reddy's Labs with a stop loss of Rs 2600, target of Rs 2700.
The bulls turned up on D-Street as benchmark indices logged in gains, largely in line with global markets, which rallied after US Federal Reserve Chair Jerome Powell raised hopes of a rate cut.
The broader markets also traded in line with frontliners as the Nifty Midcap index gained 0.7 percent, but breadth was not so strong. About 930 shares advanced against 839 declining shares on the BSE.
According to Pivot charts, the key support level is placed at 11,535.27, followed by 11,487.63. If the index starts moving upward, the key resistance levels to watch out are 11,614.77 and 11,646.63.
Nifty Bank closed at 30,716.55, up 194.45 points on July 11. The important Pivot level, which will act as crucial support for the index, is placed at 30,591.9, followed by 30,467.2. On the upside, key resistance levels are placed at 30,814.7, followed by 30,912.8.
In an interview to CNBC-TV18, top market experts recommend which stocks to bet on for good returns:
Ashwani Gujral of ashwanigujral.com
Buy Power Grid with a stop loss of Rs 204, target of Rs 216
Buy HDFC with a stop loss of Rs 2240, target of Rs 2300
Buy Dr Reddy's Labs with a stop loss of Rs 2600, target of Rs 2700
Buy Bharat Forge with a stop loss of Rs 458, target of Rs 480Buy Punjab National Bank with a stop loss of Rs 72, target of Rs 80
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