Indian equity benchmarks closed at fresh all-time highs for the fourth consecutive day on December 20.
The gains, however, were nominal as the Sensex climbed only 8 points to 41,681.54 while the Nifty rose 12 points to close at 12,271.80.
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Market sentiment also got a boost from the RBI’s decision to conduct a special open market operation (OMO) to bring down long-term yields. This was cheered by the market with gains in banking stocks. However, the concerns over the weakness in the economy prevailed, triggering profit-taking by investors, after Fitch Ratings cut India's GDP growth forecast for FY20 to 4.6 percent.
According to the pivot charts, the key support level for the Nifty is placed at 12,251.77, followed by 12,231.73. If the index continues moving up, key resistance levels to watch out for are 12,292.87 and 12,313.93.
In an interview to CNBC-TV18, top market experts recommend which stocks to bet on for good returns:
Ashwani Gujral of ashwanigujral.com
Buy Titan Company with stop loss of Rs 1185, target of Rs 1240
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Buy Tata Steel with a stop loss of Rs 456, target of Rs 480
Buy State Bank of India with a stop loss of Rs 332, target of Rs 348
Buy UPL with a stop loss of Rs 573, target of Rs 590
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Buy Canara Bank with a stop loss of Rs 225, target of Rs 241
Sudarshan Sukhani of s2analytics.com
Buy Bata India with stop loss at Rs 1660 and target of Rs 1750
Buy Wipro with stop loss at Rs 246 and target of Rs 259
Buy GAIL India with stop loss at Rs 117 and target of Rs 128
Buy LIC Housing Finance with stop loss at Rs 435 and target of Rs 448
Mitesh Thakkar of miteshthakkar.com
Buy Adani Enterprises with a stop loss of Rs 214 and target of Rs 229
Sell Havells India below Rs 634 with stop loss of Rs 646 and target of Rs 610
Buy Shriram Transport Finance with a stop loss of Rs 1166 and target of Rs 1224
Buy HDFC Life with a stop loss of Rs 600 and target of Rs 635
Disclaimer: 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.
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