Rajat Bose of rajatkbose.com recommends buying Ashok Leyland with stop loss below Rs 86.50 for targets of Rs 91.75 and Rs 93.25 and Colgate Palmolive below Rs 1178 for targets of Rs 1212 and Rs 1225.
Benchmark indices failed to hold 11,750 level and ended marginally lower in lacklustre trade on May 2. The Sensex ended 35.78 points down at 39,031.55, while Nifty closed 6.50 points lower at 11,748.20.
The Nifty after opening marginally lower at 11,725.55 remained rangebound throughout the session. The index touched an intraday high of 11,789.30 and low of 11,699.55, before closing 23.40 points lower at 11,724.80.
India VIX moved up 5.19 percent at 22.96. Higher VIX suggests that volatile swings could continue in the market ahead of election polls and outcome.
According to the Pivot charts, the key support level is placed at 11,686.43, followed by 11,648.07. If the index starts moving upward, key resistance levels to watch out are 11,776.23 and 11,827.67.
The Nifty Bank closed at 29,708.6, down 56.2 points, on May 2. The important Pivot level, which will act as crucial support for the index, is placed at 29,591.84, followed by 29,475.07. On the upside, key resistance levels are placed at 29,872.34, followed by 30,036.07.
In an interview to CNBC-TV18, top market experts recommend which stocks to bet on for good returns:
Prakash Gaba of prakashgaba.com
Buy Ashok Leyland with target at Rs 95 and stop loss at Rs 89
Buy Jubliant Food with target at Rs 1380 and stop loss at Rs 1325
Sell Bharat Financial Inclusion with target at Rs 950 and stop loss at Rs 990
Sell Indiabulls Housing Finance with target at Rs 650 and stop loss at Rs 705
Rajat Bose of rajatkbose.com
Buy Ashok Leyland with stop loss below Rs 86.50 for targets of Rs 91.75 and Rs 93.25
Buy Colgate Palmolive below Rs 1178 for targets of Rs 1212 and Rs 1225
Buy Eicher Motors with stop loss below Rs 20280 for targets of Rs 20818 and Rs 20952.
Mitessh Thakkar of mitesshthakkar.com
Buy ICICI General Life Insurance with target of Rs 1155-1160 and stop loss at Rs 1080
Buy Ajanta Pharma with target of Rs 1125 and stop loss at Rs 1050
Sell Motherson Sumi Systems with target of Rs 133 and stop loss at Rs 144
Sell Cummins India with target of Rs 670 and stop loss at Rs 720Disclaimer: 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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