Mitesh Thakkar of miteshthakkar.com recommends buying State Bank of India with a stop loss of Rs 320 and target of Rs 335 and Ambuja Cements with a stop loss of Rs 207.5 and target of Rs 222.
Indian equity benchmarks Sensex and Nifty snapped their losing streak of the last two consecutive sessions on February 11 as investors comforted from the decline in the rate of newly reported cases of Coronavirus in China.
Sensex ended the day with a gain of 237 points, or 0.58 percent, at 41,216.14 while Nifty finished at 12,107.90, up 76 points, or 0.63 percent.
Experts said while hope that the epidemic of coronavirus could come under control soon boosted sentiments, it remains a key monitorable for the markets over the next few days.
According to the pivot charts, the key support level for Nifty is placed at 12,080.5, followed by 12,053.1. If the index continues moving up, key resistance levels to watch out for are 12,153.8 and 12,199.7.
Nifty Bank closed 0.78 percent up at 31,300.60. The important pivot level, which will act as crucial support for the index, is placed at 31,182.37, followed by 31,064.13. On the upside, key resistance levels are placed at 31,462.37 and 31,624.13.
In an interview to CNBC-TV18, top market experts recommend which stocks to bet on for good returns:
Ashwani Gujral of ashwanigujral.com
Buy JSW Steel with a stop loss of Rs 280, target of Rs 305
Buy Maruti Suzuki with a stop loss of Rs 7000, target of Rs 7150
Buy Balkrishna Industries with a stop loss of Rs 1120, target of Rs 1175
Buy Apollo Hospitals with a stop loss of Rs 1680, target of Rs 1740
Buy Sun TV with a stop loss of Rs 498, target of Rs 520
Sudarshan Sukhani of s2analytics.com
Sell Wipro with stop loss at Rs 244 and target of Rs 237
Sell Havells India with stop loss at Rs 624 and target of Rs 609
Buy Apollo Hospitals with stop loss at Rs 1675 and target of Rs 1750
Buy Cipla with stop loss at Rs 444 and target of Rs 458
Mitesh Thakkar of miteshthakkar.com
Buy State Bank of India with a stop loss of Rs 320 and target of Rs 335
Buy Ambuja Cements with a stop loss of Rs 207.5 and target of Rs 222
Sell Muthoot Finance below Rs 742 with stop loss of Rs 754 and target of Rs 715
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