Sudarshan Sukhani of s2analytics.com recommends buying Dabur India with stop loss at Rs 381 and target of Rs 394, Ajanta Pharma with stop loss at Rs 944 and target of Rs 973 and Hexaware Tech with stop loss at Rs 410 and target of Rs 424.
The market reversed most of its gains that were seen in the previous session and closed sharply lower on June 21. Escalated geopolitical tensions between the US and Iran and the RBI's concern over slowing economy dented traders' sentiment.
Sensex fell 407.14 points or 1.03 percent to 39,194.49, while Nifty shed 107.70 points or 0.91 percent to 11,724.10, forming a bearish candle on the daily as well as weekly charts. For the week, indices declined 0.65 percent and 0.8 percent, respectively.
The broader markets outperformed benchmark indices, with the Nifty Midcap and Smallcap indices closing flat with a negative bias. All sectoral indices closed in the red.
According to the Pivot charts, the key support level is placed at 11,676.8, followed by 11,629.5. If the index starts moving upward, key resistance levels to watch out are 11,799.7 and 11,875.3.
The Nifty Bank closed at 30,628.35, down 152.75 points on June 21. The important Pivot level, which will act as crucial support for the index, is placed at 30,511.57, followed by 30,394.83. On the upside, key resistance levels are placed at 30,774.97, followed by 30,921.63.
In an interview to CNBC-TV18, top market experts recommend which stocks to bet on for good returns:
Ashwani Gujral of ashwanigujral.com
Buy V Guard Industries with a stop loss of Rs 234, target of Rs 250
Buy Dabur India with a stop loss of Rs 388, target of Rs 402
Sell Maruti Suzuki with a stop loss of Rs 6450, target of Rs 6320
Sell HDFC with a stop loss of Rs 2160, target of Rs 2100
Sell Reliance Industries with a stop loss of Rs 1285, target of Rs 1250Sudarshan Sukhani of s2analytics.com
Buy Dabur India with stop loss at Rs 381 and target of Rs 394
Buy Ajanta Pharma with stop loss at Rs 944 and target of Rs 973
Buy Hexaware Tech with stop loss at Rs 410 and target of Rs 424
Sell Tata Chemicals with stop loss at Rs 611 and target of Rs 601
Sell JSPL with stop loss at Rs 148 and target of Rs 143
Mitessh Thakkar of mitesshthakkar.com
Buy BHEL with a stop loss of Rs 70 and target of Rs 74
Sell Equitas Holdings with a stop loss of Rs 130.5 and target of Rs 121
Sell PVR with a stop loss of Rs 1644 and target of Rs 1530
Buy State Bank of India with a stop loss of Rs 344 and target of Rs 360Disclaimer: 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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