Moneycontrol News
The Nifty50 managed to settle the volatile expiry session as well as February series marginally lower on Thursday. Weak global cues weighed on the market sentiment, but hope of unlikely escalation of geopolitical tensions between India and Pakistan limited downside.
The index formed bullish candle which resembles a 'Bearish Belt Hold' kind of pattern on the daily charts.
A 'Bearish Belt Hold' pattern is formed when the opening price becomes the highest point of the trading day (intraday high) and the index declines throughout the trading day making up for the large body. The candle will either have a small or no upper shadow and a small lower shadow.
The Nifty50 opened sharply higher at 10,865.70, which was also an intraday high, but immediately fell and remained rangebound between 10,785 to 10,850 zones for rest of the February settlement day. It closed 14.20 points lower at 10,792.50 on February 28 and lost 0.4 percent in February series.
Experts said VIX has to cool down below 16-15 zones to get the smooth ride in the market else restricted upside could continue to keep pressure on the
market.
In an interview to CNBC-TV18, top market experts recommend which stocks to bet on for good returns:
Ashwani Gujral of ashwanigujral.com
Buy Motherson Sumi Systems with a stop loss of Rs 157, target of Rs 172
Buy ONGC with a stop loss of Rs 144, target of Rs 158
Buy Voltas with a stop loss of Rs 562, target of Rs 578
Buy Titan Company with a stop loss of Rs 1010, target of Rs 1065
Buy Reliance Industries with a stop loss of Rs 1215, target of Rs 1265
Disclosure: Reliance Industries Ltd. is the sole beneficiary of Independent Media Trust which controls Network18 Media & Investments Ltd.
Mitessh Thakkar of mitesshthakkar.com
Buy Bharat Electronics with a stop loss of Rs 81 and target of Rs 86
Sell Eicher Motors with a stop loss of Rs 21250 and target of Rs 20100
Sell HDFC Bank with a stop loss of Rs 2091 and target of Rs 2050
Buy Voltas with a stop loss of Rs 554 and target of Rs 590
Prakash Gaba of prakashgaba.com
Buy Allahabad Bank with target at Rs 53 and stop loss at Rs 47
Buy Apollo Tyres with target at Rs 225 and stop loss at Rs 215
Buy Havells India with target at Rs 730 and stop loss at Rs 703
Sell Adani Enterprises with target at Rs 122 and stop loss at Rs 132
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.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
