Sudarshan Sukhani of s2analytics.com recommends buying Larsen & Toubro with stop loss of Rs 1315 and target of Rs 1367 and TCS with stop loss of Rs 2150 and target of Rs 2275.
The Indian market felt the heat of rising tensions between the United States and Iran which pushed prices of safe-haven assets higher and dragged riskier equities lower on January 3.
Major markets across the globe declined, global crude oil prices rose about 4 percent and gold and other safe-haven assets jumped as the US killing of a top Iranian commander in an airstrike in Iraq stoked tensions in West Asia.
The Sensex ended 162 points, or 0.39 percent, down at 41,464.61, while the NSE benchmark Nifty settled with a loss of 56 points, or 0.45 percent, at 12,226.65.
For the week, both the Sensex and Nifty shed around 0.3 percent each. The Nifty Midcap Index is the only major index to end the week with gains of nearly 2 percent, while the volatility index, India VIX, recorded its best weekly gain since August 2019, up over 20 percent.
According to the pivot charts, the key support level for Nifty is placed at 12,190.13, followed by 12,153.57. If the index continues moving up, key resistance levels to watch out for are 12,264.43 and 12,302.17.
Nifty Bank closed 1.15 percent down at 32,069.25. The important pivot level, which will act as crucial support for the index, is placed at 31,909.8, followed by 31,750.4. On the upside, key resistance levels are placed at 32,279.21 and 32,489.2.
In an interview to CNBC-TV18, top market experts recommend which stocks to bet on for good returns:
Ashwani Gujral of ashwanigujral.com
Buy ICICI Bank with stop loss of Rs 534, target of Rs 548
Buy Interglobe Aviation with a stop loss of Rs 1350, target of Rs 1400
Buy NIIT Tech with a stop loss of Rs 1615, target of Rs 1670
Buy Tata Consultancy Services with a stop loss of Rs 2175, target of Rs 2300
Buy Infosys with a stop loss of Rs 740, target of Rs 761
Sudarshan Sukhani of s2analytics.com
Buy Larsen & Toubro with stop loss of Rs 1315 and target of Rs 1367
Buy TCS with stop loss of Rs 2150 and target of Rs 2275
Buy Ambuja Cements with stop loss at Rs 199 and target of Rs 209
Sell Bank of Baroda with stop loss at Rs 102.5 and target of Rs 98
Mitesh Thakkar of miteshthakkar.com
Sell Asian Paints with a stop loss of Rs 1762.5 for target of Rs 1725
Sell Eicher Motors with a stop loss of Rs 21600 for target of Rs 20000
Buy GMR Infra with a stop loss below Rs 21.9 for target of Rs 24
Sell United Spirits below Rs 580 with stop loss of Rs 586.5 for target of Rs 564
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