The market ended a lacklustre session with a moderate loss on December 23, snapping its four-day winning streak. BJP's failure to win a majority in the Jharkhand elections also dented sentiment.
The BSE Sensex ended down 38.88 points at 41,642.66 while the Nifty 50 lost 9 points to 12,262.80, forming a small-bodied green candle as closing was higher than the opening tick.
Experts expect the market to remain rangebound in the coming sessions due to the lack of triggers. They believe 12,000 would act as crucial support.
According to the pivot charts, the key support level for Nifty is placed at 12,221.6, followed by 12,180.4. If the index gains strength, key resistance levels to watch out for are 12,295.6 and 12,328.4.
Nifty Bank closed 0.14 percent lower at 32,339.50 on December 23. The important pivot level, which will act as crucial support for the index, is placed at 32,189.87, followed by 32,040.33. On the upside, key resistance levels are placed at 32,495.87 and 32,652.33.
In an interview to CNBC-TV18, top market experts recommend which stocks to bet on for good returns:
Ashwani Gujral of ashwanigujral.com
Buy Berger Paints with a stop loss of Rs 517, target of Rs 545
Buy Maruti Suzuki with a stop loss of Rs 7340, target of Rs 7420
Buy Muthoot Finance with a stop loss of Rs 735, target of Rs 760
Buy BASF with a stop loss of Rs 990, target of Rs 1025
Buy Tata Chemicals with a stop loss of Rs 655, target of Rs 710
Sudarshan Sukhani of s2analytics.com
Buy Bosch with stop loss at Rs 15000 and target of Rs 15950
Buy Dr Reddy's Labs with stop loss at Rs 2855 and target of Rs 3020
Buy ICICI Prudential Life Insurance with stop loss at Rs 496 for target of Rs 511
Sell Arvind with stop loss at Rs 39.70 and target of Rs 37.50
Mitesh Thakkar of miteshthakkar.com
Buy HDFC Bank with a stop loss below Rs 1282 for target of Rs 1340
Buy Maruti Suzuki with a stop loss of Rs 7290 for target of Rs 7500
Buy Wipro with a stop loss of Rs 249.5 for target of Rs 262
Sell NBCC with a stop loss of Rs 35.7 for target of Rs 32.5
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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