Rajat Bose of rajatkbose.com recommends buying Bajaj Finance with stop loss below Rs 3968 for target of Rs 4070 and Rs 4087 and Tata Steel with stop loss below Rs 373 for target of Rs 387.
Nifty ended September series with a gain of nearly 6 percent, forming a bullish candle after forming red candles in the last three consecutive expiries, which indicates that bulls are trying to take charge from the lower end.
Investor sentiment was boosted by positive comments from China on a trade deal with the United States. As per Reuters, the Chinese commerce ministry said Beijing is in close communication with Washington and is preparing to make progress at trade talks in October.
The Sensex index closed 396 points, or 1.03 percent, higher at 38,989.74, with 23 stocks in the green and 7 in the red. The Nifty index logged a gain of 131 points, or 1.15 percent, settling at 11,571.20, with 41 stocks up and 9 down.
Analysts are positive on the market and suggest to use the dips to make fresh bets.
According to the pivot charts, key support level for Nifty is placed at 11,488.07, followed by 11,404.93. If the index starts moving up, key resistance levels to watch out for are 11,632.57 and 11,693.93.
Nifty Bank closed with a gain of 1.41 percent at 30,002.60. The important pivot level, which will act as crucial support for the index, is placed at 29513.63, followed by 29024.67. On the upside, key resistance levels are placed at 30604.93 and 31207.27.
In an interview to CNBC-TV18, top market experts recommend which stocks to bet on for good returns:
Rajat Bose of rajatkbose.com
Buy Bajaj Finance with stop loss below Rs 3968 for target of Rs 4070 and Rs 4087
Buy Tata Steel with stop loss below Rs 373 for target of Rs 387
Buy HPCL with stop loss below Rs 296 for target of Rs 317 and Rs 321
Mitessh Thakkar of mitesshthakkar.com
Buy Ashok Leyland around Rs 72.5 with stop loss of Rs 70 for target of Rs 77
Buy Cholamandalam Investment with a stop loss of Rs 303 for target of Rs 326
Buy Divis Labs with a stop loss of Rs 1649 for target of Rs 1730
Sell Reliance Infra with a stop loss of Rs 36.25 for target of Rs 32
Prakash Gaba of prakashgaba.com
Buy Coal India with target at Rs 220 and stop loss at Rs 199
Buy M&M Financial Services with target at Rs 370 and stop loss at Rs 344
Buy Grasim Industries with target at Rs 765 and stop loss at Rs 730Buy Vedanta with target at Rs 175 and stop loss at Rs 160
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