Top buy and sell ideas by Ashwani Gujral, Sudarshan Sukhani, Prakash Gaba for short term

The market gained momentum after rangebound trade in the last few sessions to close higher for the second straight day on July 16 driven by banking & financials, auto, healthcare and energy stocks.

The BSE Sensex rallied 234.33 points to 39,131.04 while the Nifty 50 climbed 74.20 points to 11,662.60, forming a bullish candle on the daily scale. The Nifty Midcap index marginally outperformed Nifty 50, rising 0.75 percent but Smallcap index closed flat.

According to the pivot charts, the key support level is placed at 11,601.07, followed by 11,539.53. If the index starts moving upward, the key resistance levels to watch out are 11,697.07 and 11,731.53.

The Nifty Bank closed at 30,570.80, up 124.85 points on July 16. The important pivot level, which will act as crucial support for the index, is placed at 30,455.47, followed by 30,340.13. On the upside, key resistance levels are placed at 30,660.57, followed by 30,750.33.

In an interview to CNBC-TV18, top market experts recommend which stocks to bet on for good returns:

Ashwani Gujral of ashwanigujral.com

Buy Lupin with a stop loss of Rs 770, target of Rs 805

Buy Dabur India with a stop loss of Rs 420, target of Rs 435

Buy Biocon with a stop loss of Rs 254, target of Rs 268

Buy Power Grid with a stop loss of Rs 205, target of Rs 218

Buy Tata Global Beverage with a stop loss of Rs 254, target of Rs 271

Sudarshan Sukhani of s2analytics.com