Sudarshan Sukhani of s2analytics.com recommends selling Repco Home Finance with stop loss at Rs 390 and target of Rs 370, Mahindra & Mahindra with stop loss at Rs 695 and target of Rs 665 and JSW Steel with stop loss at Rs 269 and target of Rs 258.
The Nifty remained in the grip of bears throughout February 8. It closed below its crucial 5-days exponential moving average placed at 10,967 and made a bearish candle after forming a Doji candle that indicated a possible reversal in the trend.
Nifty opened at 11,023 and rose to an intraday high of 11,041, but then bears pushed the index below 11,000 to close at 10,943, down 125 points.
India VIX moved up 0.87 percent at 15.58. VIX needs to hold below 16 to extend Nifty's positive momentum with a hold above 10,985.
According to Pivot charts, the key support level is placed at 10,899, followed by 10,854.4. If the index starts moving upwards, key resistance levels to watch out are 11,014.7 and 11,085.8.
The Nifty Bank index closed at 27,294.4. The important Pivot level, which will act as crucial support for the index, is placed at 27,183.03, followed by 27,071.66. On the upside, key resistance levels are placed at 27,443.93, followed by 27,593.46.
In an interview to CNBC-TV18, top market experts recommend which stocks to bet on for good returns:
Ashwani Gujral of ashwanigujral.com
Buy Kotak Mahindra Bank with a stop loss of Rs 1285, target of Rs 1340
Buy UPL with a stop loss of Rs 817, target of Rs 792
Sell Balkrishna Industries with a stop loss of Rs 770, target of Rs 745
Sell Escorts with a stop loss of Rs 670, target of Rs 642
Sell M&M Financial Services with a stop loss of Rs 405, target of Rs 385
Sudarshan Sukhani of s2analytics.com
Sell Repco Home Finance with stop loss at Rs 390 and target of Rs 370
Sell Mahindra & Mahindra with stop loss at Rs 695 and target of Rs 665
Sell JSW Steel with stop loss at Rs 269 and target of Rs 258
Buy Bajaj Finance with stop loss at Rs 2670 and target of Rs 2750
Buy Titan Company with stop loss at Rs 1040 and target of Rs 1075
Mitessh Thakkar of mitesshthakkar.com
Sell Bosch with a stop loss of Rs 19080 and target of Rs 18500
Sell Britannia Industries below Rs 3090 with stop loss of Rs 3130 and target of Rs 3010
Buy UPL with a stop loss of Rs 799 and target of Rs 835
Sell Escorts around Rs 663 - 664 with stop loss of Rs 677 and target of Rs 640Disclaimer: 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.The Great Diwali Discount!
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