Mitessh Thakkar of mitesshthakkar.com recommends buying Ashok Leyland above Rs 72.5 with stop loss of Rs 70.9 for target of Rs 77 and Divis Labs with a stop loss of Rs 1699 for target of Rs 1755.
The market continued its northward journey for fourth consecutive session amid consistent FII buying and September quarter earnings season, though there was a rollercoaster ride on October 16.
The 30-share BSE Sensex rose 92.90 points to 38,598.99 while the Nifty50 climbed 35.70 points to 11,464, forming Doji kind of pattern on daily charts which indicated indecisiveness among bulls and bears. The broader markets were mixed with Nifty Midcap index falling 0.15 percent while Smallcap index gained 0.37 percent.
According to the pivot charts, the key support level for Nifty is placed at 11,423.07, followed by 11,382.13. If the index starts moving up, key resistance levels to watch out for are 11,492.97 and 11,521.93.
Nifty Bank closed with marginal loss of 16.30 percent at 28,538.80. The important pivot level, which will act as crucial support for the index, is placed at 28,309.7, followed by 28,080.6. On the upside, key resistance levels are placed at 28,763.6 and 28,988.4.
In an interview to CNBC-TV18, top market experts recommend which stocks to bet on for good returns:
Ashwani Gujral of ashwanigujral.com
Buy Bajaj Finance with a stop loss of Rs 3980, target of Rs 4100
Buy HDFC with a stop loss of Rs 2000, target of Rs 2150
Buy Avenue Supermarts with a stop loss of Rs 1840, target of Rs 1930
Buy ICICI Prudential with a stop loss of Rs 460, target of Rs 485
Buy Bharat Forge with a stop loss of Rs 430, target of Rs 455
Sudarshan Sukhani of s2analytics.com
Buy Havells India with stop loss at Rs 650 and target of Rs 700
Buy LIC Housing Finance with stop loss at Rs 355 and target of Rs 395
Buy United Spirits with stop loss at Rs 612 and target of Rs 655
Sell Torrent Pharma with stop loss at Rs 1670 and target of Rs 1602
Mitessh Thakkar of mitesshthakkar.com
Buy Ashok Leyland above Rs 72.5 with stop loss of Rs 70.9 for target of Rs 77
Buy Divis Labs with a stop loss of Rs 1699 for target of Rs 1755
Buy Mindtree with a stop loss of Rs 734 for target of Rs 760
Buy UltraTech Cement with a stop loss of Rs 4220 for target of Rs 4400Disclaimer: 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.