The market consolidated before ending flat on July 3. Nifty 50 held on at 11,900 levels for the second straight day. The index formed a small bearish candle, resembling a Doji kind of pattern on daily charts, indicating a rangebound move in the coming session, experts said. The BSE
Sensex rose 22.77 points to 39,839.25 and the Nifty 50 gained 6.50 points to 11,916.80.
The Nifty Midcap and Smallcap indices outperformed frontliners, rising 0.4 percent each. The market breadth was slightly in favour of bulls; about 956 shares advanced against 812 declining shares on the NSE.
According to Pivot charts, the key support level is placed at 11,887.47, followed by 11,858.13. If the index starts moving upward, the key resistance levels to watch out are 11,945.67 and 11,974.53.
The Nifty Bank closed at 31,382.30, up 99 points on July 3. The important Pivot level, which will act as a crucial support for the index, is placed at 31,258.13, followed by 31,133.97. On the upside, key resistance levels are placed at 31,486.83, followed by 31,591.37.
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 163, target of Rs 177
Buy Canara Bank with a stop loss of Rs 284, target of Rs 297
Buy Petronet LNG with a stop loss of Rs 244, target of Rs 260
Buy Ashok Leyland with a stop loss of Rs 85, target of Rs 93
Buy Bank of Baroda with a stop loss of Rs 122, target of Rs 134
Sudarshan Sukhani of s2analytics.com
Buy Axis Bank with stop loss at Rs 798 and target of Rs 820
Buy Bata India with stop loss at Rs 1445 and target of Rs 1489
Buy Canara Bank with stop loss at Rs 283 and target of Rs 294
Buy Larsen & Toubro with stop loss at Rs 1560 and target of Rs 1600
Sell Pidilite Industries with stop loss at Rs 1235 and target of Rs 1200
Mitessh Thakkar of mitesshthakkar.com
Sell GAIL India with a stop loss of Rs 310.5 and target of Rs 295
Buy ITC with a stop loss of Rs 273 and target of Rs 283
Buy Petronet LNG with a stop loss of Rs 244 and target of Rs 260
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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