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Last Updated : Oct 03, 2019 05:28 PM IST | Source: Moneycontrol.com

Top buy and sell ideas by Rajat Bose, Mitessh Thakkar, Prakash Gaba for short term

Prakash Gaba of prakashgaba.com recommends buying Escorts with target at Rs 640 and stop loss at Rs 580 and HDFC Bank with target at Rs 1280 and stop loss at Rs 1230.

Moneycontrol News @moneycontrolcom

The Sensex closed 362 points, or 0.94 percent, down at 38,305.41, with 23 stocks in the red and only seven in the green, while the Nifty pack fell 115 points, or 1 percent, to 11,359.90 on October 1. As many as 39 stocks ended in the red in the 50-share index.

On the technical front, Nifty formed a large bearish candle on the daily charts after closing below 11,400 levels for the first time since September 20, 2019.

Sustained selling pressure has been seen at higher levels and resistance is gradually shifting lower. Hence, until the index trades below 11,400 level and if it breaks Tuesday's (October 1) intraday low, bears could tighten their grip at Dalal Street, experts said.

Close

According to the pivot charts, key support level for Nifty is placed at 11,220.47, followed by 11,081.03. If the index starts moving up, key resistance levels to watch out for are 11,526.77 and 11,693.63.

Nifty Bank closed with a loss of 1.30 percent at 28,725.50. The important pivot level, which will act as crucial support for the index, is placed at 28,026.4, followed by 27,327.3. On the upside, key resistance levels are placed at 29,475.5 and 30,225.5.

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

Rajat Bose of rajatkbose.com

Buy HDFC Bank with stop loss below Rs 1220 for targets of Rs 1270 and Rs 1280

Buy Motherson Sumi Systems with stop loss below Rs 100.80 for target of Rs 110

Sell Asian Paints with stop loss above Rs 1785 for targets of Rs 1725 and Rs 1710

Sell Bajaj Finance with stop loss above Rs 4052 for targets of Rs 3948 and Rs 3890.

Mitessh Thakkar of mitesshthakkar.com

Sell Grasim Industries with a stop loss of Rs 705.5 and target of Rs 665

Buy ITC around Rs 254 with stop loss of Rs 249 for target of Rs 265

Sell Lupin with a stop loss of Rs 714 and target of Rs 675

Sell Bank of India with a stop loss of Rs 63 and target of Rs 57

Prakash Gaba of prakashgaba.com

Buy Escorts with target at Rs 640 and stop loss at Rs 580

Buy HDFC Bank with target at Rs 1280 and stop loss at Rs 1230

Sell Apolo Hospitals with target at Rs 1320 and stop loss at Rs 1400

Sell BHEL with target at Rs 40 and stop loss at Rs 48

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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First Published on Oct 3, 2019 08:36 am
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