Sudarshan Sukhani of s2analytics.com recommends buying Divis Labs with stop loss of Rs 1600 and target of Rs 1750, Mindtree with stop loss at Rs 700 and target of Rs 760 and Zee Entertainment with stop loss at Rs 240 and target of Rs 270.
Sensex closed 141 points, or 0.38 percent, down at 37,531.98, with 22 stocks in the red and 8 in the green, while the Nifty index settled 48 points, or 0.43 percent, lower at 11,126.40. Among the 50 stocks in the index, 32 suffered losses.
Among secondary barometers, BSE Midcap index declined nearly 0.2 percent, outperforming the Sensex and the BSE Smallcap index fell about 0.8 percent, underperforming the Sensex. The market sentiment looks weak and investors have now fixed their eyes on the second qaurter earnings.
On technical charts, Nifty has entered the zone of 11,180-11,100, which was acting as a resistance zone in August –September.
According to the pivot charts, key support level for Nifty is placed at 11,081.47, followed by 11,036.53. If the index starts moving up, key resistance levels to watch out for are 11,202.57 and 11,278.73.
Nifty Bank closed with a nominal gain of 0.13 percent at 27,767.55. The important pivot level, which will act as crucial support for the index, is placed at 27,495.54, followed by 27,223.47. On the upside, key resistance levels are placed at 28,112.43 and 28,457.27.
In an interview to CNBC-TV18, top market experts recommend which stocks to bet on for good returns:
Ashwani Gujral of ashwanigujral.com
Sell JSW Steel with a stop loss of Rs 213, target of Rs 198
Sell Indiabulls Housing Finance with a stop loss of Rs 231, target of Rs 215
Sell ACC with a stop loss of Rs 1455, target of Rs 1400
Sell NCC with a stop loss of Rs 48.50, target of Rs 42
Buy Britannia Industries with a stop loss of Rs 2920, target of Rs 3040
Sudarshan Sukhani of s2analytics.com
Buy Divis Labs with stop loss of Rs 1600 and target of Rs 1750
Buy Mindtree with stop loss at Rs 700 and target of Rs 760
Buy Zee Entertainment with stop loss at Rs 240 and target of Rs 270
Sell NMDC with stop loss at Rs 93.5 and target of Rs 88
Mitessh Thakkar of mitesshthakkar.com
Sell Ambuja Cements around Rs 187.5 with stop loss of Rs 192 for target of Rs 175
Buy Britannia Industries with a stop loss of Rs 2929 and target of Rs 3010
Buy Adani Ports with a stop loss of Rs 390 and target of Rs 408
Sell Tata Steel with a stop loss of Rs 332 and target of Rs 306Disclaimer: 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.Get access to India's fastest growing financial subscriptions service Moneycontrol Pro for as little as Rs 599 for first year. Use the code "GETPRO". Moneycontrol Pro offers you all the information you need for wealth creation including actionable investment ideas, independent research and insights & analysis For more information, check out the Moneycontrol website or mobile app.