Sudarshan Sukhani of s2analytics.com recommends buying Exide Industries with stop loss at Rs 188 and target of Rs 201, HDFC with stop loss at Rs 2150 and target of Rs 2400 and Jindal Steel & Power with stop loss at Rs 141 and target of Rs 152.
The market continued to consolidate its gains for the third consecutive week and closed on a flat note due to lack of strong global and domestic cues. The BSE Sensex gained 2.72 points to close at 40,359.41 though touched a record high of 40,816.38 during the week that ended on November 22.
The Nifty50 failed to hold on to the psychological 12,000 level, and rose 18.95 points to end at 11,914.40. It formed a Doji candlestick pattern for the third consecutive week, indicating indecisiveness amongst market participants regarding the direction.
Experts expect volatility to continue in coming week as well, given the lack of major news and the expiry of November futures and options contracts on November 28.
According to the pivot charts, the key support level for Nifty is placed at 11,875.9, followed by 11,837.4. If the index continues moving up, key resistance levels to watch out for are 11,960.5 and 12,006.6.
The Nifty Bank closed 0.76 percent lower at 31,111.60 on November 22. The important pivot level, which will act as crucial support for the index, is placed at 30,979.8, followed by 30,848. On the upside, key resistance levels are placed at 31,318.8 and 31,526.
In an interview to CNBC-TV18, top market experts recommend which stocks to bet on for good returns:
Ashwani Gujral of ashwanigujral.com
Buy Jindal Steel & Power with a stop loss of Rs 139, target of Rs 152
Buy HDFC with a stop loss of Rs 2200, target of Rs 2310
Buy Ujjivan Financial Services with a stop loss of Rs 300, target of Rs 321
Sell Havells India with a stop loss of Rs 644, target of Rs 620
Sell Indraprastha Gas with a stop loss of Rs 408, target of Rs 390
Sudarshan Sukhani of s2analytics.com
Buy Exide Industries with stop loss at Rs 188 and target of Rs 201
Buy HDFC with stop loss at Rs 2150 and target of Rs 2400
Buy Power Finance Corporation with stop loss at Rs 115 and target of Rs 125.
Sell UPL with stop loss at Rs 545 and target of Rs 515
Mitesh Thakkar of miteshthakkar.com
Buy Eicher Motors with a stop loss of Rs 22580 and target of Rs 23200
Buy JSW Steel above Rs 254.5 with stop loss of Rs 249.5 and target of Rs 267
Sell TCS with a stop loss of Rs 2100 and target of Rs 2020
Sell Wipro with a stop loss of Rs 247 and target of Rs 233Disclaimer: The views and investment tips expressed by investment experts on moneycontrol.com 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.