Sudarshan Sukhani of s2analytics.com recommends buying HCL Tech with stop loss at Rs 542 and target of Rs 585 and ICICI Prudential Life Insurance with stop loss at Rs 487 and target of Rs 515.
The BSE Sensex fell 71 points, or 0.17 percent, to 40,939 while the Nifty 50 closed with losses of 33 points, or 0.27 percent, at 12,054. BSE Midcap and Smallcap closed with losses of 0.46 percent and 0.20 percent, respectively.
A long negative candle was formed today with a gap up opening, which indicates the formation of the dark cloud cover type candle pattern. Technically, the formation of such a pattern at the swing highs or near the hurdles could indicate further weakness in the market ahead.
According to the pivot charts, the key support level for Nifty is placed at 12,021.97, followed by 11,989.93. If the index moves up, key resistance levels to watch out for are 12,110.37 and 12,166.73.
Nifty Bank closed 0.13 percent down at 31,974.20. The important pivot level, which will act as crucial support for the index, is placed at 31,852.37, followed by 31,730.54. On the upside, key resistance levels are placed at 32,141.47 and 32,308.73.
Trends on SGX Nifty indicate a positive opening for the broader index in India, with a 29 points gain or 0.24 percent. The Nifty futures were trading around 12,099-level on the Singaporean Exchange.
In an interview to CNBC-TV18, top market experts recommend which stocks to bet on for good returns:
Ashwani Gujral of ashwanigujral.com
Sell M&M Financial Services with a stop loss of Rs 333, target of Rs 318
Sell Amara Raja Batteries with a stop loss of Rs 732, target of Rs 710
Buy Indraprastha Gas with a stop loss of Rs 415, target of Rs 432
Buy TCS with a stop loss of Rs 2100, target of Rs 2175
Buy Jubilant Life Sciences with a stop loss of Rs 540, target of Rs 575
Sudarshan Sukhani of s2analytics.com
Buy HCL Tech with stop loss at Rs 542 and target of Rs 585
Buy ICICI Prudential Life Insurance with stop loss at Rs 487 and target of Rs 515
Buy Siemens with stop loss at Rs 1476 and target of Rs 1535
Sell Mahindra & Mahindra with stop loss at Rs 516 and target of Rs 500
Mitesh Thakkar of miteshthakkar.com
Buy Bharat Forge with a stop loss of Rs 462 and target of Rs 490
Sell Hindustan Unilever around Rs 1980 with stop loss of Rs 2001 for target of Rs 1940
Buy Tech Mahindra with a stop loss of Rs 762 and target of Rs 795
Buy Larsen & Toubro with a stop loss of Rs 1284 and target of Rs 1340
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