The market started the week on a positive note led by supportive global cues, but after that early trade upside, it remained rangebound for rest of session and closed on a flat note November 18.
The BSE Sensex closed 72.50 points lower at 40,284.19 while the Nifty50 fell 11 points to 11,884.50 and formed small bearish candle on daily charts.
Experts expect the rangebound trade to continue in coming days due to lack of domestic and global cues, and said 11,800 could continue to act as a crucial support in near term.
According to the pivot charts, key support level for Nifty is placed at 11,852.67, followed by 11,820.83. If the index continues moving up, key resistance levels to watch out for are 11,931.27 and 11,978.03.
Nifty Bank closed flat at 30,992.10. The important pivot level, which will act as crucial support for the index, is placed at 30,861.4, followed by 30,730.7. On the upside, key resistance levels are placed at 31,163.2 and 31,334.3.
In an interview to CNBC-TV18, top market experts recommend which stocks to bet on for good returns:
Ashwani Gujral of ashwanigujral.com
Buy PFC with a stop loss of Rs 114, target of Rs 128
Buy Aurobindo Pharma with a stop loss of Rs 420, target of Rs 445
Buy Tata Steel with a stop loss of Rs 404, target of Rs 421
Buy UPL with a stop loss of Rs 540, target of Rs 565
Buy Axis Bank with a stop loss of Rs 716, target of Rs 740
Sudarshan Sukhani of s2analytics.com
Buy Bank of Baroda with stop loss at Rs 93 for target of Rs 99
Buy Canara Bank with stop loss at Rs 205 and target of Rs 220
Buy UltraTech Cement with stop loss at Rs 4020 and target of Rs 4300
Sell Raymond with stop loss at Rs 735 and target of Rs 690
Prakash Gaba of prakashgaba.com
Buy Federal Bank with target at Rs 90 and stop loss at Rs 85
Buy REC with target at Rs 148 and stop loss at Rs 138
Buy Tata Global Beverage with target at Rs 315 and stop loss at Rs 300
Sell Britannia Industries with target at Rs 3050 and stop loss at Rs 3200
Disclaimer: The views and investment tips expressed by investment experts on moneycontrol.com 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.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
