Mitessh Thakkar of mitesshthakkar.com recommends buying Asian Paints with a stop loss of Rs 1386 and target of Rs 1440 and Zee Entertainment above Rs 368 with stop loss of Rs 363 and target of Rs 382.
The bearish sentiment continued on Dalal Street with the Sensex falling more than 400 points intraday on July 22.
Benchmark indices closed at a two-month low. Sensex was down 305.88 points at 38,031.13 while the Nifty50 fell 73.10 points to 11,346.20 but held 200-day exponential moving average (11,297) and formed bearish candle on daily scale. If the index breaks 200-DEMA, then there could be more selling pressure, experts said.
The broader markets also witnessed selling pressure with the Nifty Midcap index falling 0.57 percent and Smallcap index declining 1.57 percent.
According to the pivot charts, the key support level is placed at 11,298.87, followed by 11,251.53. If the index starts moving upward, the key resistance levels to watch for out are 11,395.87 and 11,445.53.
The Nifty Bank closed at 29,284.95, down 485.40 points on July 22. The important pivot level, which will act as crucial support for the index, is placed at 29,107.6, followed by 28,930.3. On the upside, key resistance levels are placed at 29,548.7, followed by 29,812.5.
In an interview to CNBC-TV18, top market experts recommend which stocks to bet on for good returns:
Ashwani Gujral of ashwanigujral.com
Buy Reliance Industries with a stop loss of Rs 1265, target of Rs 1320
Buy Tata Consultancy Services with a stop loss of Rs 2090, target of Rs 2140
Sell Kotak Mahindra Bank with a stop loss of Rs 1470, target of Rs 1400
Sell HDFC with a stop loss of Rs 2210, target of Rs 2150
Sell Bajaj Finserv with a stop loss of Rs 7300, target of Rs 7150
Mitessh Thakkar of mitesshthakkar.com
Buy Asian Paints with a stop loss of Rs 1386 and target of Rs 1440
Sell Kotak Mahindra Bank with a stop loss of Rs 1470 and target of Rs 1420
Sell Nestle India with a stop loss of Rs 11500 and target of Rs 10800
Buy Zee Entertainment above Rs 368 with stop loss of Rs 363 and target of Rs 382
Prakash Gaba of prakashgaba.com
Buy Asian Paints with target at Rs 1430 and stop loss at Rs 1380
Buy MCX India with target at Rs 890 and stop loss at Rs 867
Sell Just Dial with target at Rs 700 and stop loss at Rs 739
Sell Nestle India with target at Rs 11200 and stop loss at Rs 11425
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.