Moneycontrol News
The market maintained its uptrend on first day of financial year 2019-20, but closed off day's high due to selling pressure in last hour of trade on April 1. The 30 -share BSE Sensex hit an intraday record high of 39,115.57, before closing 198.96 points higher at 38,871.87.
Although Nifty spot index could not cross its life high (11,760), Nifty future contract hit a record high (11,822) as compared to the previous life high of 11,793 levels.
The Nifty50 rose 45.25 points to close at 11,669.15 and formed 'Gravestone Doji' kind of pattern on daily charts, suggesting selling pressure on the higher side, experts said.
According to the Pivot charts, the key support level is placed at 11,629.96, followed by 11,590.73. If the index starts moving upward, key resistance levels to watch out are 11,723.26 and 11,777.33.
The Nifty Bank index closed at 30,326.50, down 100.30 points on April 1. The important Pivot level, which will act as crucial support for the index, is placed at 30,147.17, followed by 29,967.83. On the upside, key resistance levels are placed at 30,576.96, followed by 30,827.43.
In an interview to CNBC-TV18, top market experts recommend which stocks to bet on for good returns:
Ashwani Gujral of ashwanigujral.com
Buy Adani Enterprises with a stop loss of Rs 148, target of Rs 160
Buy Bharat Electronics with a stop loss of Rs 94, target of Rs 102
Buy IRB Infra with a stop loss Rs 150, target of Rs 164
Buy Reliance Industries with a stop loss of Rs 1375, target of Rs 1430
Buy Bajaj Finserv with a stop loss of Rs 7100, target of Rs 7260
Disclosure: Reliance Industries Ltd. is the sole beneficiary of Independent Media Trust which controls Network18 Media & Investments Ltd.
Sudarshan Sukhani of s2analytics.com
Buy Hexaware Tech with stop loss at Rs 352 and target of Rs 368
Buy Tata Consultancy Services with stop loss at Rs 1995 and target of Rs 2070
Buy Berger Paints with stop loss at Rs 326 and target of Rs 338
Sell Zee Entertainment with stop loss at Rs 437 and target of Rs 425
Sell Escorts with stop loss at Rs 789 and target of Rs 755
Mitessh Thakkar of mitesshthakkar.com
Sell Britannia Industries with a stop loss of Rs 3076 and target of Rs 2980
Buy ICICI Prudential with a stop loss of Rs 353 and target of Rs 385
Buy Infosys with a stop loss of Rs 740 and target of Rs 785
Buy Larsen & Toubro with a stop loss of Rs 1395 and target of Rs 1450
Disclaimer: 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.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
