Sudarshan Sukhani of s2analytics.com recommends buying Sun Pharma with stop loss at Rs 438 and target of Rs 458, ICICI Bank with stop loss at Rs 348 and target of Rs 360 and Britannia Industries with stop loss at Rs 3020 and target of Rs 3130.
The market rallied on the first day of March series and helped close the week ending March 1 on a positive note on de-escalation of India-Pakistan border conflict and hope of trade deal between the US and China.
The 30-share BSE Sensex climbed 196.37 points to 36,063.81 as the Nifty50 advanced 71 points to 10,863.50 and formed bullish candle on daily as well as weekly charts. For the week, the indices gained 0.5 percent and 0.7 percent, respectively.
The Nifty has been trading in a tight range of 10,930-10,600 for last three months, whereby it has to surpass crucial resistance of 10,930 for heading north on the closing basis, experts said. RSI is placed above 50, suggesting a better possibility of higher closing in the coming week.
All sectoral indices closed higher with PSU Bank (up 2.6 percent) and Metal (1.8 percent) rising the most. The Nifty Midcap (up 1.44 percent) and Smallcap indices (up 2.7 percent) outperformed benchmark indices.
According to Pivot charts, the key support level is placed at 10,831.77, followed by 10,800.03. If the index starts moving upward, key resistance levels to watch out are 10,886.57 and 10,909.63.
The Nifty Bank index closed at 27,043.90, up 254 points on March 1. The important Pivot level, which will act as crucial support for the index, is placed at 26,956.33, followed by 26,868.77. On the upside, key resistance levels are placed at 27,104.03, followed by 27,164.17.
In an interview to CNBC-TV18, top market experts recommend which stocks to bet on for good returns:
Ashwani Gujral of ashwanigujral.com
Buy Bank of Baroda with a stop loss of Rs 104, target of Rs 116
Buy Canara Bank with a stop loss of Rs 240, target of Rs 254
Buy Punjab National Bank with a stop loss of Rs 74, target of Rs 82
Buy Jindal Steel & Power with a stop loss of Rs 157, target of Rs 172
Buy Piramal Enterprises with a stop loss of Rs 2350, target of Rs 2430
Sudarshan Sukhani of s2analytics.com
Buy Sun Pharma with stop loss at Rs 438 and target of Rs 458
Buy ICICI Bank with stop loss at Rs 348 and target of Rs 360
Buy Britannia Industries with stop loss at Rs 3020 and target of Rs 3130
Buy Interglobe Aviation with stop loss at Rs 1105 and target of Rs 1139
Sell Indiabulls Housing Finance with stop loss at Rs 675 and target of Rs 668
Mitessh Thakkar of mitesshthakkar.com
Sell Asian Paints with a stop loss of Rs 1403 and target of Rs 1370
Buy Bharat Electronics with a stop loss below Rs 82 and target of Rs 92
Buy Cholamandalam Investment with a stop loss of Rs 1250 and target of Rs 1300
Buy Kajaria Ceramics with a stop loss of Rs 547 and target of Rs 575Disclaimer: 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.