The Indian market extended gains into the fourth consecutive session on January 14 with the benchmark indices hitting fresh record highs for the second day in a row.
Sensex settled 93 points, or 0.22 percent, higher at 41,952.63, while Nifty closed with a gain of 33 points, or 0.27 percent, at 12,362.30.
Nifty traded in a narrow range throughout the day only to pick up some momentum towards the end. The index has crossed 12,350-mark and experts say now the next target, for Nifty, on the upside is at 12,560 with an intermediate hurdle at 12,400.
According to the pivot charts, the key support level for Nifty is placed at 12,322.6, followed by 12,282.9. If the index continues moving up, key resistance levels to watch out for are 12,388.1 and 12,413.9.
Nifty Bank closed 0.33 percent down at 32,071.65. The important pivot level, which will act as crucial support for the index, is placed at 31,975.13, followed by 31,878.56. On the upside, key resistance levels are placed at 32,182.33 and 32,292.97.
In an interview to CNBC-TV18, top market experts recommend which stocks to bet on for good returns:
Ashwani Gujral of ashwanigujral.com
Buy Balkrishna Industries with a stop loss of Rs 1060, target of Rs 1095
Buy HDFC with a stop loss of Rs 2480, target of Rs 2540
Buy India Cements with a stop loss of Rs 82, target of Rs 94
Buy Avanti Feeds with a stop loss of Rs 640, target of Rs 665
Buy Escorts with a stop loss of Rs 667, target of Rs 685
Sudarshan Sukhani of s2analytics.com
Buy Indraprastha Gas with stop loss at Rs 421 and target of Rs 435
Buy Muthoot Finance with stop loss at Rs 755 and target of Rs 778
Buy Zee Entertainment with stop loss at Rs 262 and target of Rs 278
Buy NMDC with stop loss at Rs 122 and target of Rs 131
Mitesh Thakkar of miteshthakkar.com
Amar Raj Bat buy with a stop of 747 tgt of 782
Buy Cipla above Rs 486.5 with stop loss of Rs 479.9 for target of Rs 500
Buy NTPC with a stop loss of Rs 121.5 for target of Rs 128
Buy City Union Bank above Rs 237 with stop loss below Rs 232 for target of Rs 250Disclaimer: 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.