The Indian market consolidated in a narrow range on December 24 ahead of Christmas and December series expiry amid muted global cues.
BSE Sensex was down 181 points to 41,461 while the Nifty50 fell 48 points to close at 12,215.
Nifty witnessed some selling pressure towards the end of the session that dragged the index down towards the junction of the 40-hour exponential moving average and the hourly lower Bollinger Band.
According to the pivot charts, the key support level for Nifty is placed at 12,183.17, followed by 12,151.83. If the index moves up, key resistance levels to watch out for are 12,264.77 and 12,315.03.
Nifty Bank closed 0.18 percent down at 32,280.75. The important pivot level, which will act as crucial support for the index, is placed at 32,221.17, followed by 32,161.53. On the upside, key resistance levels are placed at 32,365.37 and 32,449.94.
In an interview to CNBC-TV18, top market experts recommend which stocks to bet on for good returns:
Ashwani Gujral of ashwanigujral.com
Buy IndusInd Bank with a stop loss of Rs 1500, target of Rs 1565
Buy JSW Steel with a stop loss of Rs 262, target of Rs 276
Sell BPCL with a stop loss of Rs 482, target of Rs 460
Sell HCL Tech with a stop loss of Rs 565, target of Rs 540
Buy Kotak Mahindra Bank with a stop loss of Rs 1695, target of Rs 1730
Sudarshan Sukhani of s2analytics.com
Buy Bosch with stop loss at Rs 15030 and target of Rs 15865
Buy Bharti Infratel with stop loss at Rs 249 and target of Rs 262
Buy Muthoot Finance with stop loss at Rs 735 and target of Rs 768
Sell Canara Bank with stop loss at Rs 228 and target of Rs 221
Mitesh Thakkar of miteshthakkar.com
Buy Cipla with a stop loss of Rs 472 and target of Rs 490
Buy ICICI Prudential Life Insurance with a stop loss of Rs 1404 and target of Rs 1500
Sell LIC Housing Finance with a stop loss of Rs 430 and target of Rs 410
Buy Tata Chemicals with a stop loss of Rs 674 and target of Rs 700
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.
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!
