Ashwani Gujral of ashwanigujral.com recommends buying Tata Global Beverage with a stop loss of Rs 238, target of Rs 254, Ujjivan Financial Services with a stop loss of Rs 356, target of Rs 372 and Interglobe Aviation with a stop loss of Rs 1660, target of Rs 1710.
After a volatile session, indices closed marginally in red on May 31. However, during the week, it gained on hopes of big bang reforms from the newly formed Modi government.
Nifty fell 23.10 points to 11,922.80 after Modi government allocated cabinet portfolio on May 31, forming bearish candle on daily charts while for the week, the index gained 0.66 percent and formed small bullish candle on the weekly scale. For May, the index gained 1.5 percent.
Experts said that unless 12,041—the record high that Nifty hit during election result week—is crossed, sharp upside momentum won't be possible in the near term.
According to the Pivot charts, the key support level is placed at 11,821.8, followed by 11,720.8. If the index starts moving upward, key resistance levels to watch out are 12,031.5 and 12,140.2.
The Nifty Bank index closed at 31,375.40, down 161.70 points on May 31. The important Pivot level, which will act as crucial support for the index, is placed at 30,737.8, followed by 30,100.2. On the upside, key resistance levels are placed at 31,898.3, followed by 32,421.2.
In an interview to CNBC-TV18, top market experts recommend which stocks to bet on for good returns:
Ashwani Gujral of ashwanigujral.com
Buy Tata Global Beverage with a stop loss of Rs 238, target of Rs 254
Buy Ujjivan Financial Services with a stop loss of Rs 356, target of Rs 372
Buy Interglobe Aviation with a stop loss of Rs 1660, target of Rs 1710
Buy Havells India with a stop loss of Rs 740, target of Rs 765
Buy Bajaj Finance with a stop loss of Rs 3420, target of Rs 3550
Sudarshan Sukhani of s2analytics.com
Buy Axis Bank with stop loss at Rs 806 and target of Rs 816
Buy Godrej Consumer Products with stop loss at Rs 685 and target of Rs 696
Buy ACC with stop loss at Rs 1675 and target of Rs 1705
Sell Hindalco Industries with stop loss at Rs 199 and target of Rs 194
Sell Reliance Capital with stop loss at Rs 123 and target of Rs 118Mitessh Thakkar of miteshthacker.com
Buy Adani Ports with a stop loss of Rs 409 and target of Rs 432
Buy Petronet LNG with a stop loss of Rs 243 and target of Rs 260
Buy Cummins India with a stop loss of Rs 778 and target of Rs 815
Buy Godrej Consumer Products with a stop loss of Rs 675 and target of Rs 710Disclaimer: 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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