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Time to reset economy

Last Updated : Jan 16, 2020 08:56 AM IST | Source: Moneycontrol.com

Top buy and sell ideas by Ashwani Gujral, Sudarshan Sukhani, Mitesh Thakkar for short term

Sudarshan Sukhani of s2analytics.com recommends buying Cadila Healthcare with stop loss at Rs 259 and target of Rs 268 and TCS with stop loss at Rs 2210 and target of Rs 2275.

Benchmark indices snapped their winning streak of four consecutive sessions on January 15 as investors embarked on profit-booking after the December quarter numbers of some banks dented sentiments.

The market traded volatile and finally settled marginally lower, taking a pause after the recent surge. The bias was negative from the beginning due to weak Asian cues ahead of the US-China trade deal. Also, the decline in the banking pack further dragged the index lower.

Sensex closed 80 points, or 0.19 percent, down at 41,872.73, while Nifty finished 19 points, or 0.15 percent, lower at 12,343.30.

Close

According to the pivot charts, the key support level for Nifty is placed at 12,296.33, followed by 12,249.37. If the index moves up, key resistance levels to watch out for are 12,372.73 and 12,402.17.

Nifty Bank closed 0.77 percent down at 31,824.90. The important pivot level, which will act as crucial support for the index, is placed at 31,663.17, followed by 31,501.43. On the upside, key resistance levels are placed at 31,993.77 and 32,162.63.

In an interview to CNBC-TV18, top market experts recommend which stocks to bet on for good returns:

Ashwani Gujral of ashwanigujral.com

Buy Indraprastha Gas with a stop loss of Rs 440, target of Rs 465

Buy Jindal Steel & Power with a stop loss of Rs 177, target of Rs 191

Buy Berger Paints with a stop loss of Rs 540, target of Rs 565

Buy TVS Motor with a stop loss of Rs 482, target of Rs 510

Buy Bharat Electronics with a stop loss of Rs 100, target of Rs 112

Sudarshan Sukhani of s2analytics.com

Buy Cadila Healthcare with stop loss at Rs 259 and target of Rs 268

Buy TCS with stop loss at Rs 2210 and target of Rs 2275

Buy Castrol India with stop loss at Rs 129 and target of Rs 141

Sell IndusInd Bank with stop loss at Rs 1435 and target of Rs 1350

Mitesh Thakkar of miteshthakkar.com

Buy Bharat Electronics with a stop loss of Rs 46 and target of Rs 49

Buy Asian Paints with a stop loss of Rs 1824 and target of Rs 1880

Buy NCC with a stop loss of Rs 58.5 and target of Rs 64

Buy Ambuja Cements with a stop loss of Rs 208 and target of Rs 220

DisclaimerThe 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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First Published on Jan 16, 2020 08:56 am
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