The market gained for the second straight session and closed at a three-week high on July 2 on optimism ahead of the 2019 Union Budget and hopes of a resolution in the ongoing trade war between the US and China.
The BSE Sensex rose 129.98 points to 39,816.48, while the Nifty50 climbed 44.70 points to 11,910.30 and formed a small bullish candle resembling a
Hanging Man kind of pattern on the daily charts.
Broader markets were mixed in trade with the Nifty Midcap index rising 0.4 percent, while the Smallcap index ended flat with a negative bias.
According to Pivot charts, the key support level is placed at 11,844.17, followed by 11,778.03. If the index starts moving upward, the key resistance levels to watch out are 11,946.97 and 11,983.63.
The Nifty Bank closed at 31,283.30, down 88.90 points on July 2. The important Pivot level, which will act as a crucial support for the index, is placed at 31,115.17, followed by 30,947.03. On the upside, key resistance levels are placed at 31,441.37, followed by 31,599.44.
In an interview to CNBC-TV18, top market experts recommend which stocks to bet on for good returns:
Ashwani Gujral of ashwanigujral.com
Buy State Bank of India with a stop loss of Rs 360, target of Rs 374
Buy Bharti Airtel with a stop loss of Rs 348, target of Rs 364
Buy Infosys with a stop loss of Rs 735, target of Rs 760
Buy Century Textiles with a stop loss of Rs 955, target of Rs 980
Buy Pidilite Industries with a stop loss of Rs 1190, target of Rs 1240
Sudarshan Sukhani of s2analytics.com
Buy Adani Ports with stop loss at Rs 409 and target of Rs 421
Buy Bata India with stop loss at Rs 1445 and target of Rs 1485
Buy Dabur India with stop loss at Rs 398 and target of Rs 409
Buy Infosys with stop loss at Rs 730 and target of Rs 755
Buy Larsen & Toubro with stop loss at Rs 1550 and target of Rs 1585
Mitessh Thakkar of mitesshthakkar.com
Buy MCX India with a stop loss below Rs 840 for target of Rs 877
Buy IDFC First Bank with a stop loss below Rs 43.40 for target of Rs 46
Buy Eicher Motors with a stop loss below Rs 19850 for target of Rs 20500
Buy Mahindra & Mahindra with a stop loss of Rs 654 and target of Rs 690
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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