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Last Updated : Jul 22, 2019 12:59 PM IST | Source: Moneycontrol.com

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

Ashwani Gujral of ashwanigujral.com suggests selling State Bank of India with a stop loss of Rs 361, target of Rs 346 and Kotak Mahindra Bank with a stop loss of Rs 1520, target of Rs 1465.

The sharp fall for second consecutive session not only dragged the market to its two-month low on July 19, but also got it into negative territory for the week due to some disappointment over earnings, and unhappiness among FPIs after the Finance Minister refused to tweak the surcharge on the super-rich.

The BSE Sensex was down 560.45 points at 38,337.01, while the Nifty50 plunged 177.60 points to 11,419.30 on selling across sectors. Both benchmark indices fell a percent each for the week.

The index formed a bearish candle on daily as well as weekly scale, indicating bears are having the upper-hand on the Street, which could drag the index below 11,300 level, if it decisively breaks 11,400, which it managed to hold while closing on Friday, experts feel.


The correction in broader markets was higher than benchmark indices as the Nifty Midcap and Smallcap indices fell around 2 percent each on Friday and around 4 percent each for the week.

According to the pivot charts, the key support level is placed at 11,332.23, followed by 11,245.27. If the index starts moving upward, the key resistance levels to watch for out are 11,573.23 and 11,727.27.

The Nifty Bank closed at 29,770.35, down 660.25 points on July 19. The important pivot level, which will act as crucial support for the index, is placed at 29,469.47, followed by 29,168.63. On the upside, key resistance levels are placed at 30,307.47, followed by 30,844.63.

In an interview to CNBC-TV18, top market experts recommend which stocks to bet on for good returns:

Ashwani Gujral of ashwanigujral.com

Sell State Bank of India with a stop loss of Rs 361, target of Rs 346

Sell Kotak Mahindra Bank with a stop loss of Rs 1520, target of Rs 1465

Sell Amara Raja Batteries with a stop loss of Rs 615, target of Rs 595

Sell TVS Motor Company with a stop loss of Rs 403, target of  Rs 385

Buy NIIT Tech with a stop loss of Rs 1300, target of Rs 1345

Mitessh Thakkar of mitesshthakkar.com

Sell Bata India with a stop loss of Rs 1316 and target of Rs 1250

Sell Escorts with a stop loss of Rs 520 and target of Rs 485

Buy SpiceJet with a stop loss of Rs 138 for target of Rs 148

Buy Reliance Industries with a stop loss of Rs 1234 and target of Rs 1280

Prakash Gaba of prakashgaba.com

Buy Power Grid with target at Rs 212 and stop loss at Rs 203

Sell ITC with target at Rs 260 and stop loss at Rs 271

Sell Motherson Sumi Systems with target at Rs 100 and stop loss at Rs 113

Sell CESC with target at Rs 740 and stop loss at Rs 770

Disclaimer: 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.

Disclosure: Reliance Industries Ltd. is the sole beneficiary of Independent Media Trust which controls Network18 Media & Investments Ltd.
First Published on Jul 22, 2019 08:09 am