Sudarshan Sukhani of s2analytics.com recommends buying Mahindra & Mahindra with stop loss at Rs 660 and target of Rs 675, Divis Labs with stop loss at Rs 1698 and target of Rs 1730 and United Spirits with stop loss at Rs 536 and target of Rs 565.
After consolidating early in the day, the market managed to gain momentum in the last hour of trade and ended near the day's high on April 9 with all sectoral indices closing in the green.
The BSE Sensex gained 238.69 points at 38,939.22 while the Nifty 50 rose 67.50 points to 11,672, forming a bullish candle on daily charts.
The advance-decline ratio was in favour of bears pointing towards selling pressure in the broader markets as more number of scrips closed in negative terrain. About 966 shares declined against 786 advancing shares on the NSE. The Nifty Midcap and Smallcap indices closed flat with a positive bias.
According to the Pivot charts, the key support level is placed at 11,599.83, followed by 11,527.67. If the index starts moving upward, key resistance levels to watch out are 11,714.03 and 11,756.07.
The Nifty Bank index closed at 30,113.85, up 268.55 points on April 9. The important Pivot level, which will act as crucial support for the index, is placed at 29,823.23, followed by 29,532.67. On the upside, key resistance levels are placed at 30,284.73, followed by 30,455.67.
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 India with a stop loss of Rs 100, target of Rs 106
Buy YES Bank with a stop loss of Rs 265, target of Rs 280
Buy Bank of Baroda with a stop loss of Rs 129, target of Rs 137
Buy ICICI Bank with a stop loss of Rs 393, target of Rs 410
Buy Canara Bank with a stop loss of Rs 282, target of Rs 296
Sudarshan Sukhani of s2analytics.com
Buy Mahindra & Mahindra with stop loss at Rs 660 and target of Rs 675
Buy Divis Labs with stop loss at Rs 1698 and target of Rs 1730
Buy United Spirits with stop loss at Rs 536 and target of Rs 565
Sell MCX India with stop loss at Rs 775 and target of Rs 736
Sell NMDC with stop loss at Rs 105.9 and target of Rs 101
Mitessh Thakkar of mitesshthakkar.com
Buy Bajaj Auto with a stop loss below Rs 2888 for target of Rs 3000
Buy Maruti Suzuki with a stop loss of Rs 7160 and target of Rs 7320
Buy Tata Motors DVR with a stop loss of Rs 96 and target of Rs 106
Sell Max Financial Services with a stop loss of Rs 432 and target of Rs 409Disclaimer: 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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