Sudarshan Sukhani of s2analytics.com recommends buying Tech Mahindra with stop loss at Rs 800 and target of Rs 814, Hexaware Tech with stop loss at Rs 341 and target of Rs 350 and Hindustan Unilever with stop loss at Rs 1735 and target of Rs 1760.
The BSE Sensex fell 80.30 points to 38,564.88 while the Nifty 50 closed down 18.50 points at 11,576 forming a bearish candle on daily charts.
Nifty is currently placed near the crucial support of 11,550 and expected to slip below this support in the next 1-2 sessions, experts said, adding the formation of a bearish candle following a Bearish Belt Hold on the daily scale indicates that bears are now forcing the market to restrict its momentum.
According to the Pivot charts, the key support level is placed at 11,545.2, followed by 11,514.4. If the index starts moving upward, key resistance levels to watch out are 11,626.4 and 11,676.8.
The Nifty Bank index closed at 29,479.70, down 208.25 points on April 23. The important Pivot level, which will act as crucial support for the index, is placed at 29,321.23, followed by 29,162.77. On the upside, key resistance levels are placed at 29,772.33, followed by 30,064.96.
In an interview to CNBC-TV18, top market experts recommend which stocks to bet on for good returns:
Ashwani Gujral of ashwanigujral.com
Sell Maruti Suzuki with a stop loss of Rs 7150, target of Rs 7000
Sell HDFC Bank with a stop loss of Rs 2270, target of Rs 2200
Buy Reliance Capital with a stop loss of Rs 138, target of Rs 154
Buy HPCL with a stop loss of Rs 330, target of Rs 347
Sudarshan Sukhani of s2analytics.com
Buy Tech Mahindra with stop loss at Rs 800 and target of Rs 814
Buy Hexaware Tech with stop loss at Rs 341 and target of Rs 350
Buy Hindustan Unilever with stop loss at Rs 1735 and target of Rs 1760
Sell Oriental Bank of Commerce with stop loss at Rs 100.50 and target of Rs 98
Sell LIC Housing Finance with stop loss at Rs 503 and target of Rs 491
Mitessh Thakkar of mitesshthakkar.com
Buy Coal India with a stop loss of Rs 251 and target of Rs 264
Buy Oil & Natural Gas Corporation with a stop loss of Rs 160 and target of Rs 172
Sell Adani Enterprises with a stop loss of Rs 136 and target of Rs 125
Buy Bata India with a stop loss of Rs 1430 and target of Rs 1475Disclaimer: 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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