Sudarshan Sukhani of s2analytics.com recommends buying Bajaj Finance with stop loss at Rs 3480 and target of Rs 3560, ICICI Bank with stop loss at Rs 413 and target of Rs 430 and Tata Consultancy Services with stop loss at Rs 2160 and target of Rs 2200.
After a rangebound trade, the market recouped its losses in the final hour and closed with marginal gains on June 7, driven by select banking and financials and IT stocks. The BSE Sensex gained 86.18 to close at 39,615.90, while the Nifty50 rose 26.90 points to 11,870.70 and formed a small bullish candle which resembles a Doji on daily charts.
However, for the week, the Sensex lost 0.25 percent, while the Nifty50 shed 0.44 percent and formed a Spinning Top pattern on the weekly charts.
Both technical patterns indicate indecisiveness on Dalal Street, which pointed towards the consolidation in the coming week, experts said, adding the range could 11,700 to 12,000 on the Nifty.
According to the Pivot charts, the key support level is placed at 11,794.3, followed by 11,717.9. If the index starts moving upward, key resistance levels to watch out are 11,922.3 and 11,973.9.
The Nifty Bank index closed at 31,066.55, up 209.15 points on June 7. The important Pivot level, which will act as crucial support for the index, is placed at 30,749.26, followed by 30,431.93. On the upside, key resistance levels are placed at 31,261.76, followed by 31,456.93.
In an interview to CNBC-TV18, top market experts recommend which stocks to bet on for good returns:
Ashwani Gujral of ashwanigujral.com
Buy Apollo Hospitals with a stop loss of Rs 1380, target of Rs 1440
Buy Bajaj Finance with a stop loss of Rs 3490, target of Rs 3550
Buy HDFC with a stop loss of Rs 2195, target of Rs 2250
Buy HPCL with a stop loss of Rs 305, target of Rs 321
Buy DCB Bank with a stop loss of Rs 235, target of Rs 250
Sudarshan Sukhani of s2analytics.com
Buy Bajaj Finance with stop loss at Rs 3480 and target of Rs 3560
Buy ICICI Bank with stop loss at Rs 413 and target of Rs 430
Buy Tata Consultancy Services with stop loss at Rs 2160 and target of Rs 2200
Sell Hindustan Zinc with stop loss at Rs 240.5 and target of Rs 236
Sell Ceat with stop loss at Rs 979 and target of Rs 968
Mitessh Thakkar of mitesshthakkar.com
Buy Havells India with a stop loss of Rs 774 and target of Rs 815
Buy NBCC with a stop loss below Rs 59.5 for target of Rs 64
Buy Reliance Industries with a stop loss of Rs 1299 and target of Rs 1345
Sell Biocon around Rs 532 with stop loss of Rs 543 for target of Rs 510Disclaimer: 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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