Moneycontrol News
The market fell for the eighth consecutive session on February 19, the longest losing streak since July 2013. The sentiment was dented by Pakistan Prime Minister Imran Khan's comments that the country will retaliate if India launches military strikes in the aftermath of the Pulwama terror attack.
It looked like a positive session after seven days of losses, but a late sell-off wiped out all gains and benchmark indices slipped into the red for the eighth day in a row.
The 30-share BSE Sensex was down 145.83 points at 35,352.61 while the Nifty 50 lost 36.60 points to 10,604.40, taking the total eight-day loss to 465 points. The index formed a bearish candle, resembling an Inverted Hammer kind of formation on the daily charts.
According to Pivot charts, the key support level is placed at 10,552.4, followed by 10,500.5. If the index starts moving upward, key resistance levels to watch out are 10,689.5 and then 10,774.7.
The Nifty Bank index closed at 26,684.85, up 30.60 points on February 19. The important Pivot level, which will act as crucial support for the index, is placed at 26,541.46, followed by 26,398.13. On the upside, key resistance levels are placed at 26,912.26, followed by 27,139.73.
In an interview to CNBC-TV18, top market experts recommend which stocks to bet on for good returns:
Ashwani Gujral of ashwanigujral.com
Buy Sun TV Network with a stop loss of Rs 550, target of Rs 575
Buy Power Finance Corporation with a stop loss of Rs 104, target of Rs 116
Sell Adani Ports with a stop loss of Rs 345, target of Rs 330
Sell Equitas Holdings with a stop loss of Rs 113, target of Rs 105
Sudarshan Sukhani of s2analytics.com
Buy Larsen & Toubro with stop loss at Rs 1245 and target of Rs 1280
Buy UPL with stop loss at Rs 800 and target of Rs 840
Buy Bata India with stop loss at Rs 1240 and target of Rs 1290
Sell Exide Industries with stop loss at Rs 210 and target of Rs 199
Sell BEML with stop loss at Rs 765 and target of Rs 735
Mitessh Thakkar of mitesshthakkar.com
Buy Grasim Industries with a stop loss of Rs 709 and target of Rs 744
Sell Aurobindo Pharma with a stop loss of Rs 721 and target of Rs 680
Buy Power Finance Corporation with a stop loss of Rs 105 and target of Rs 113
Sell Interglobe Aviation around Rs 1110 - 1115 with stop loss of Rs 1131 and target of Rs 1080
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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