Sudarshan Sukhani of s2analytics.com recommends buying Ashok Leyland with stop loss at Rs 84.80 and target of Rs 88 and M&M Financial Services with stop loss at Rs 348 and target of Rs 355.
Domestic equity market remained under pressure for yet another session due to factors such as caution ahead of the Union Budget, tepid quarterly earnings and mixed global cues.
With a loss of 208 points or 0.50 percent, Sensex ended the session at 41,115.38 while Nifty closed the day at 12,106.90, down 63 points or 0.52 percent. BSE Midcap and Smallcap indices closed 0.32 percent and 0.13 percent lower, respectively.Nifty continued to consolidate in the range of 11,800-12,500. Market experts said since the index was trading near the upper band of the range, selling pressure has pushed the index towards 12,100 level.
According to the pivot charts, the key support level for Nifty is placed at 12,054.87, followed by 12,002.83. If the index moves up, key resistance levels to watch out for are 12,191.97 and 12,277.03.
Nifty Bank closed 0.80 percent down at 30,701.45. The important pivot level, which will act as crucial support for the index, is placed at 30,493.9, followed by 30,286.4. On the upside, key resistance levels are placed at 31,029 and 31,356.6.
In an interview to CNBC-TV18, top market experts recommend which stocks to bet on for good returns:
Ashwani Gujral of ashwanigujral.com
Sell Kotak Mahindra Bank with a stop loss of Rs 1600, target of Rs 1550
Sell Maruti Suzuki with a stop loss of Rs 7160, target of Rs 7080
Sell HDFC with a stop loss of Rs 2430, target of R 2350
Buy ICICI Prudential with a stop loss of Rs 504, target of Rs 521
Buy Interglobe Aviation with a stop loss of Rs 1450, target of Rs 1510
Sudarshan Sukhani of s2analytics.com
Buy Ashok Leyland with stop loss at Rs 84.80 and target of Rs 88
Buy M&M Financial Services with stop loss at Rs 348 and target of Rs 355
Sell Bosch with stop loss at Rs 14800 and target of Rs 14400
Sell Tata Motors with stop loss at Rs 187.5 and target of Rs 181Mitesh Thakkar of miteshthakkar.com
Buy Exide Industries with a stop loss of Rs 194.5 and target of Rs 206
Buy Nestle India with a stop loss of Rs 15400 for target of Rs 15950
Sell ONGC with a stop loss of Rs 120 for target of Rs 110
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