The market rallied for the second straight day and ended at a two-week closing high on June 26 with the Nifty surpassing its 50-DEMA, backed by optimism over the US-China trade deal.
The BSE Sensex gained 157.14 points to 39,592.08, driven by banks, metals and pharma stocks while the Nifty 50 rose 51 points to 11,847.50, forming a
bullish candle on daily charts.
Participation was also seen from broader markets as the Nifty Midcap index gained a percent and Smallcap index rose 0.75 percent.
According to the Pivot charts, the key support level is placed at 11,779.4, followed by 11,711.3. If the index starts moving upward, key resistance levels to watch out are 11,893.7 and 11,939.9.
The Nifty Bank closed at 31,162.35, up 315.30 points on June 26. The important Pivot level, which will act as crucial support for the index, is placed at 30,885.1, followed by 30,607.9. On the upside, key resistance levels are placed at 31,321.1, followed by 31,479.9.
In an interview to CNBC-TV18, top market experts recommend which stocks to bet on for good returns:
Ashwani Gujral of ashwanigujral.com
Buy Bata India with a stop loss of Rs 1410, target of Rs 1465
Buy Bajaj Finance with a stop loss of Rs 3600, target of Rs 3675
Buy Vedanta with a stop loss of Rs 173, target of Rs 188
Buy HDFC Bank with a stop loss of Rs 2450, target of Rs 2520
Buy Adani Ports with a stop loss of Rs 407, target of Rs 425
Sudarshan Sukhani of s2analytics.com
Buy LIC Housing Finance with stop loss at Rs 548 and target of Rs 570
Buy Petronet LNG with stop loss at Rs 241 and target of Rs 253
Buy Canara Bank with stop loss at Rs 275 and target of Rs 285
Sell Motherson Sumi Systems with stop loss at Rs 120.5 and target of Rs 114
Sell Tata Motors with stop loss at Rs 163 and target of Rs 158
Mitessh Thakkar of mitesshthakkar.com
Buy Century Textiles with a stop loss of Rs 950 and target of Rs 985
Buy HDFC Bank with a stop loss of Rs 2454 and target of Rs 2500
Buy Grasim Industries with a stop loss of Rs 904 and target of Rs 950
Buy NALCO with a stop loss of Rs 49 and target of Rs 52.5
Disclaimer: 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.
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