Ashwani Gujral of ashwanigujral.com recommends buying RBL Bank with a stop loss of Rs 670, target of Rs 692 and Amara Raja Batteries with a stop loss of Rs 678, target of Rs 700.
Selling pressure in the last couple of hours of trade on April 10 wiped out all gains clocked on April 9, dragging the Sensex 354 points and the Nifty 50 below 11,600 levels.
Investors and traders turned cautious ahead of the first phase of general elections on April 11 and top technology companies' quarterly earnings on April 12.
The BSE Sensex was down 353.87 points or 0.91 percent to close at 38,585.35 while the Nifty 50 fell 87.70 points to 11,584.30 and formed bearish candle on the daily scale.
A sudden spike in VIX indicates limited upside with a volatile swing in the market, experts said, adding Option band signifies a lower trading range in between 11,500 to 11,760 zones.
According to the Pivot charts, the key support level is placed at 11,544.07, followed by 11,503.83. If the index starts moving upward, key resistance levels to watch out are 11,652.27 and 11,720.23.
The Nifty Bank index closed at 29,803.5, down 310.35 points on April 10. The important Pivot level, which will act as crucial support for the index, is placed at 29,662.46, followed by 29,521.43. On the upside, key resistance levels are placed at 30,050.17, followed by 30,296.83.
In an interview to CNBC-TV18, top market experts recommend which stocks to bet on for good returns:
Ashwani Gujral of ashwanigujral.com
Buy RBL Bank with a stop loss of Rs 670, target of Rs 692
Buy Amara Raja Batteries with a stop loss of Rs 678, target of Rs 700
Sell Can Fin Homes with a stop loss of Rs 352, target of Rs 336
Sell TCS with a stop loss of Rs 2080, target of Rs 1960
Buy Pidilite Industries with a stop loss of Rs 1270, target of Rs 1310
Sudarshan Sukhani of s2analytics.com
Buy Bajaj Finserv with stop loss at Rs 7365 and target of Rs 7500
Buy Hindustan Unilever with stop loss at Rs 1662 and target of Rs 1730
Buy Mindtree with stop loss at Rs 962 and target of Rs 980
Sell Apollo Tyres with stop loss at Rs 219 and target of Rs 212
Sell Bharat Forge with stop loss at Rs 500 and target of Rs 492
Mitessh Thakkar of mitesshthakkar.com
Buy Godfrey Phillips with a stop loss of Rs 1139 and target of Rs 1200
Buy Piramal Enterprises with a stop loss of Rs 2650 and target of Rs 2740
Buy Ujjivan Financial Services with a stop loss of Rs 330 and target of Rs 350
Sell Bharat Forge with a stop loss of Rs 505.5 and target of Rs 484Disclaimer: 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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