Mitessh Thakkar of mitesshthakkar.com recommends buying CESC with a stop loss of Rs 774 and target of Rs 825, ICICI Bank with a stop loss of Rs 425 and target of Rs 450 and Torrent Pharma with a stop loss of Rs 1525 and target of Rs 1585.
The market rebounded sharply on June 25 after a correction in the previous two consecutive sessions. Overall though it has remained in a 200-point range on the Nifty for the last several sessions.
The buying was across sectors with Nifty Metal rising most with 1.7 percent gain followed by PSU Bank (up 1 percent).The BSE Sensex gained 311.98 points to close at 39,434.94 while the Nifty 50 climbed 96.80 points to 11,796.50 and formed bullish candle resembling a
Bullish Engulfing kind of pattern on daily charts.
The broader markets also participated in the rally with Nifty Midcap and Smallcap indices rising over 0.6 percent each but breadth was balanced. About 911 shares advanced against 834 that fell on the NSE.
According to the Pivot charts, the key support level is placed at 11,693.53, followed by 11,590.57. If the index starts moving upward, key resistance levels to watch out are 11,856.93 and 11,917.37.
The Nifty Bank closed at 30,847.05, up 245 points on June 25. The important Pivot level, which will act as crucial support for the index, is placed at 30,561.27, followed by 30,275.44. On the upside, key resistance levels are placed at 31,023.07, followed by 31,199.03.
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 156, target of Rs 168
Buy Titan Company with a stop loss of Rs 1300, target of Rs 1365
Buy NIIT Tech with a stop loss of Rs 1320, target of Rs 1365
Buy CESC with a stop loss of Rs 780, target of Rs 810
Buy DCB Bank with a stop loss of Rs 235, target of Rs 250Sudarshan Sukhani of s2analytics.com
Buy Dabur India with stop loss at Rs 389 and target of Rs 400
Buy Strides Pharma Science with stop loss at Rs 403 and target of Rs 425
Buy Maruti Suzuki with stop loss at Rs 6420 and target of Rs 6700
Sell Indraprastha Gas with stop loss at Rs 316 and target of Rs 303
Sell Bharti Infratel with stop loss at Rs 274 and target of Rs 261
Mitessh Thakkar of mitesshthakkar.com
Buy CESC with a stop loss of Rs 774 and target of Rs 825
Buy ICICI Bank with a stop loss of Rs 425 and target of Rs 450
Buy Torrent Pharma with a stop loss of Rs 1525 and target of Rs 1585
Sell Asian Paints with a stop loss of Rs 1376 and target of Rs 1340Disclaimer: 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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