Sudarshan Sukhani of s2analytics.com recommends buying Dabur India with stop loss at Rs 424 and target of Rs 438 and HDFC with stop loss at Rs 2135 and target of Rs 2185.
The market extended the sell-off seen last week, falling sharply across sectors (except IT) on August 5 after the Centre decided to revoke Article 370 in Jammu & Kashmir and due to aggravated trade war tensions dragged Chinese yuan to 11-year low against the US dollar.
The BSE Sensex slipped 418.38 points or 1.13 percent to 36,699.84 while the Nifty 50 fell 134.80 points or 1.23 percent to 10,862.60, forming a Hammer pattern on the daily charts.
The broader markets underperformed frontliners with the Nifty Midcap index falling 1.4 percent and Smallcap index declining 2 percent. All sectoral indices except IT ended in the red.
According to the pivot charts, the key support level is placed at 10,798.2, followed by 10,733.8. If the index starts moving upward, the key resistance levels to watch for out are 10,911.4 and 10,960.2.
The Nifty Bank closed at 27,648.05, down by 556.90 points on August 5. The important pivot level, which will act as crucial support for the index, is placed at 27,402.87, followed by 27,157.63. On the upside, key resistance levels are placed at 27,879.97 and 28,111.83.
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 1348, target of Rs 1375
Sell YES Bank with a stop loss of Rs 86, target of Rs 79
Sell Jindal Steel & Power with a stop loss of Rs 118, target of Rs 106
Buy Infosys with a stop loss of Rs 774, target of Rs 794
Sell HDFC Bank with a stop loss of Rs 2190, target of Rs 2145
Sudarshan Sukhani of s2analytics.com
Buy Dabur India with stop loss at Rs 424 and target of Rs 438
Buy HDFC with stop loss at Rs 2135 and target of Rs 2185
Sell Balkrishna Industries with stop loss at Rs 705 and target of Rs 675
Sell Indraprastha Gas with stop loss at Rs 306 and target of Rs 292
Mitessh Thakkar of mitesshthakkar.com
Sell Kotak Mahindra Bank with a stop loss of Rs 1478 and target of Rs 1420
Buy Tech Mahindra with a stop loss of Rs 642 and target of Rs 660
Sell Titan Company with a stop loss of Rs 1055 and target of Rs 1000
Sell YES Bank with a stop loss of Rs 83.5 and target of Rs 75Disclaimer: 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.Subscribe to Moneycontrol Pro and gain access to curated markets data, trading recommendations, equity analysis, investment ideas, insights from market gurus and much more. Get Moneycontrol PRO for 1 year at price of 3 months at 289. Use code FREEDOM.