Prakash Gaba of prakashgaba.com recommends buying Berger Paints with target at Rs 450 and stop loss at Rs 430 and Bata India with target at Rs 1800 and stop loss at Rs 1721.
Indian market ended in the red on September 27, tracking weakness in other Asian markets. The 30-share Sensex closed the day with a loss of 167 points, or 0.43 percent, at 38,822.57, with 20 stocks in the red, while the Nifty50 finished 59 points, or 0.51 percent, lower at 11,512.40. Among the 50 stocks in the index, 39 suffered losses.
Experts are of the view that the market may see some consolidation due to sharp gains during the previous week. The Nifty50 has begun the consolidation phase after a massive rally. All short-term indicators have moved to overbought levels which cap the upside for the time being.
According to the pivot charts, key support level for Nifty is placed at 11,476.93, followed by 11,441.47. If the index starts moving up, key resistance levels to watch out for are 11,570.73 and 11,629.07.
Nifty Bank closed with a loss of 0.42 percent at 29,876.65. The important pivot level, which will act as crucial support for the index, is placed at 29,687.77, followed by 29,498.84. On the upside, key resistance levels are placed at 30,089.17 and 30,301.63.
In an interview to CNBC-TV18, top market experts recommend which stocks to bet on for good returns:
Rajat Bose of rajatkbose.com
Sell Britannia Industries with stop loss above Rs 3065 for target of Rs 2950 and Rs 2935
Buy Godrej Consumer with stop loss below Rs 685 for target of Rs 703
Buy Titan Company with stop loss below Rs 1264 for target of Rs 1324
Sell Tata Consultancy Services with stop loss above Rs 2087 for targets of RS 2020 and Rs 2007
Mitessh Thakkar of mitesshthakkar.com
Buy Kotak Mahindra Bank with stop loss of Rs 1624 and target of Rs 1680
Sell Lupin with a stop loss of Rs 729 and target of Rs 695
Buy Reliance Industries with stop loss below Rs 1293 for target of Rs 1345
Sell Sun Pharma with a stop loss of Rs 408.5 and target of Rs 385
Prakash Gaba of prakashgaba.com
Buy Berger Paints with target at Rs 450 and stop loss at Rs 430
Buy Bata India with target at Rs 1800 and stop loss at Rs 1721
Sell Indiabulls Housing Finance with target at Rs 370 and stop loss at Rs 409
Sell Jubilant Foodworks with target at Rs 1300 and stop loss at Rs 1400Disclaimer: 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.The Great Diwali Discount!
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