Sensex, Nifty & Nifty Bank post 1st monthly loss since August 2019. Market breadth favours declines; advance-decline ratio at 1:2. The Nifty fell 1.6 percent in January 2020. The BSE Sensex dropped 190 points to 40,723 while the Nifty50 closed 73 points lower at 11,962.
According to the pivot charts, the key support level for Nifty is placed at 11,904.1, followed by 11,846.1. If the index moves up, key resistance levels to watch out for are 12,061.8 and 12,161.5.
Nifty Bank closed 0.61 percent up at 30,833.60. The important pivot level, which will act as crucial support for the index, is placed at 30,672.47, followed by 30,511.34. On the upside, key resistance levels are placed at 31,014.07 and 31,194.54.
In an interview to CNBC-TV18, top market experts recommend which stocks to bet on for good returns:
Ashwani Gujral of ashwanigujral.com
Buy Hindustan Unilever with a stop loss of Rs 2060, target of Rs 2120
Buy Jubilant Food with a stop loss of Rs 1860, target of Rs 1910
Sell HDFC with a stop loss of Rs 2290, target of Rs 2220
Sell ICICI Bank with a stop loss of Rs 510, target of Rs 495
Sell ICICI Prudential with a stop loss of Rs 460, target of Rs 435
Sudarshan Sukhani of s2analytics.com
Buy Berger Paints with stop loss at Rs 540 and target of Rs 560
Buy Castrol India with stop loss at Rs 134 and target of Rs 146
Buy Nestle India with stop loss at Rs 15000 and target of Rs 16200
Sell Tata Motors with stop loss at Rs 171 and target of Rs 156
Mitesh Thakkar of miteshthakkar.com
Buy Asian Paints around Rs 1745 with stop loss of Rs 1725 and target of Rs 1780
Sell Axis Bank with a stop loss of Rs 716 for target of Rs 685
Buy Bajaj Finance with a stop loss of Rs 4249 for target of Rs 4340
Sell NCC with a stop loss of Rs 53 for target of Rs 46Disclaimer: 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.