Moneycontrol News
The market rebounded and closed higher on April 12, but snapped seven-week winning streak to end the week on a negative note amid caution as March quarter earnings season as well as polling for general elections started during the week.
The 30-share BSE Sensex gained 160.1 points to close at 38,767.11 and Nifty rose 46.75 points to 11,643.45 and formed small bullish candle on daily charts on April 12.
Price set up on daily scale suggests that supports are intact while the same on weekly scale suggests that hurdles are also visible at 11,761 which is restricting its upside momentum, experts said, adding the rangebound trade is expected to continue in coming truncated week.
According to the Pivot charts, the key support level is placed at 11,595.77, followed by 11,548.03. If the index starts moving upward, key resistance levels to watch out are 11,674.27 and 11,705.03.
The Nifty Bank index closed at 29,938.6, up 152.45 points on April 12. The important Pivot level, which will act as crucial support for the index, is placed at 29,763.43, followed by 29,588.27. On the upside, key resistance levels are placed at 30,057.33, followed by 30,176.07.
In an interview to CNBC-TV18, top market experts recommend which stocks to bet on for good returns:
Ashwani Gujral of ashwanigujral.com
Buy Rural Electrification Corporation with a stop loss of Rs 150, target of Rs 165
Buy Bank of Baroda with a stop loss of Rs 127, target of Rs 140
Buy Interglobe Aviation with stop loss at Rs 1430, target of Rs 1500
Buy Jindal Steel & Power with a stop loss of Rs 176, target of Rs 190
Buy Adani Ports with a stop loss of Rs 380, target of Rs 395
Sudarshan Sukhani of s2analytics.com
Buy HDFC with stop loss at Rs 2010 and target of Rs 2040
Buy Bata India with stop loss at Rs 1396 and target of Rs 1424
Buy Britannia Industries with stop loss at Rs 2955 and target of Rs 3015
Sell HPCL with stop loss at Rs 264 and target of Rs 256
Sell Reliance Capital with stop loss at Rs 187 and target of Rs 180
Mitessh Thakkar of mitesshthakkar.com
Buy Apollo Hospitals with a stop loss of Rs 1248 and target of Rs 1295
Buy Engineers India with a stop loss of Rs 119 and target of Rs 126
Buy Interglobe Aviation with a stop loss of Rs 1414 and target of Rs 1475
Buy ITC with a stop loss of Rs 299.5 and target of Rs 318
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.
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