Mitessh Thakkar of mitesshthakkar.com recommends selling HDFC Bank below Rs 2082 with stop loss of Rs 2096 and target of Rs 2055 and Hindustan Unilever below Rs 1730 with stop loss of Rs 1742 for target of Rs 1705.
Geopolitical tensions between India and Pakistan spooked Dalal Street on February 27 as benchmark indices gave up early gains and fell over 200 points in afternoon trade on widespread selling.
The Sensex shed 465 points from day's high to slip below 36,000 levels, down 68.28 points to settle at 35,905.43.
The Nifty50 erased 133 points from day's high to close marginally lower amid volatility ahead of expiry of February derivative contracts due on February 28. It was down 28.60 points to 10,806.70 at close and formed bearish candle on the daily charts.
The Nifty Midcap index was up 0.4 percent and Smallcap index gained 0.2 percent while major sectors like banks, FMCG and IT were lower.
According to Pivot charts, the key support level is placed at 10,725.37, followed by 10,644.03. If the index starts moving upward, key resistance levels to watch out are 10,913.87 and then 11,021.03.
The Nifty Bank index closed at 26,799.30, down 153.65 points on February 27. The important Pivot level, which will act as crucial support for the index, is placed at 26,616.0, followed by 26,432.7. On the upside, key resistance levels are placed at 27,086, followed by 27,372.7.
In an interview to CNBC-TV18, top market experts recommend which stocks to bet on for good returns:
Ashwani Gujral of ashwanigujral.com
Buy ICICI Prudential Life Insurance with a stop loss of Rs 315, target of Rs 332
Buy BEML with a stop loss of Rs 830, target of Rs 855
Buy TCS with a stop loss of Rs 2045, target of Rs 2090
Buy Godrej Industries with a stop loss of Rs 490, target of Rs 515
Buy Aurobindo Pharma with a stop loss of Rs 710, target of Rs 735
Sudarshan Sukhani of s2analytics.com
Buy Bharat Forge with stop loss at Rs 500 and target of Rs 520
Buy Colgate Palmolive with stop loss at Rs 1240 and target of Rs 1280
Buy Piramal Enterprises with stop loss at Rs 2280 and target of Rs 2360
Sell Indiabulls Housing Finance with stop loss at Rs 675 and target of Rs 640
Sell Kaveri Seed Company with stop loss at Rs 420 and target of Rs 395
Mitessh Thakkar of mitesshthakkar.com
Buy Allahabad Bank with a stop loss below Rs 45.95 for target of Rs 51
Sell HDFC Bank below Rs 2082 with stop loss of Rs 2096 and target of Rs 2055
Sell Hindustan Unilever below Rs 1730 with stop loss of Rs 1742 for target of Rs 1705
Buy ICICI Prudential with a stop loss of Rs 315 and target of Rs 333Disclaimer: The views and investment tips expressed by investment experts on moneycontrol.com/CNBC-TV18 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.