The market started off July series on a subdued note on Friday, though gained half a percent for the week ended June 28 and snapped three-week losing streak, indicating caution ahead of important event -- Union Budget that scheduled to be released on July 5.
On coming Monday, first the market may react to decision by US President Donald Trump and Chinese President Xi Jinping in G20 Summit held in Japan that both sides would continue negotiations for trade tariffs and will not levy any new tariffs against each other's products for the time being.
The broader markets outperformed frontliners as the BSE Midcap and Smallcap indices gained more than a percent each in passing week. All sectoral indices closed in green barring IT that fell 1.5 percent.
According to the Pivot charts, the key support level is placed at 11,752.3, followed by 11,715.8. If the index starts moving upward, the key resistance levels to watch out are 11,848.5 and 11,908.2.
The Nifty Bank closed at 31,105.20, down 164.30 points on June 28. The important Pivot level, which will act as a crucial support for the index, is placed at 31,007.57, followed by 30,909.93. On the upside, key resistance levels are placed at 31,255.87, followed by 31,406.54.
In an interview to CNBC-TV18, top market experts recommend which stocks to bet on for good returns:
Ashwani Gujral of ashwanigujral.com
Buy Siemens with a stop loss of Rs 1290, target of Rs 1350
Buy Axis Bank with a stop loss of Rs 800, target of Rs 825
Buy ICICI Prudential with a stop loss of Rs 384, target of Rs 398
Sell Escorts with a stop loss of Rs 541, target of Rs 520
Sell M&M Financial with a stop loss of Rs 393, target of Rs 378
Sudarshan Sukhani of s2analytics.com
Buy Adani Ports with stop loss at Rs 406 and target of Rs 421
Buy Canara Bank with stop loss at Rs 281 and target of Rs 288
Buy Hindustan Unilever with stop loss at Rs 1778 and target of Rs 1800
Sell Mindtree with stop loss at Rs 936 and target of Rs 915
Sell Bajaj Auto with stop loss at Rs 2850 and target of Rs 2790
Mitessh Thakkar of mitesshthakkar.com
Buy Apollo Hospitals with a stop loss of Rs 1338 and target of Rs 1400
Buy Bharat Heavy Electricals with a stop loss below Rs 71.8 for target of Rs 77
Buy Hindustan Unilever with a stop loss of Rs 1774 and target of Rs 1810
Sell Bharti Infratel with a stop loss of Rs 272.5 and target of Rs 255
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.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
