Time to reset economy

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Time to reset economy

Last Updated : Dec 10, 2019 12:54 PM IST | Source: Moneycontrol.com

Top buy and sell ideas by Sudarshan Sukhani, Mitesh Thakkar, Prakash Gaba for short term

Mitesh Thakkar of miteshthakkar.com recommends buying HDFC Bank with a stop loss of Rs 1232 for target of Rs 1265 and JSW Steel with a stop loss of Rs 254 for target of Rs 269.

The formation of the head and shoulder patterns are still intact in the Nifty, as per the daily time frame chart. This neckline of this pattern is at 11,880-900 level. A sustainable move below this area could open up a sharp weakness in the market ahead, said experts.

According to the pivot charts, the key support level for Nifty is placed at 11,889.67, followed by 11,841.83. If the index continues moving up, key resistance levels to watch out for are 11,983.67 and 12,029.83.

Close

Nifty Bank closed slightly lower by 0.03 percent at 31,332.10. The important pivot level, which will act as crucial support for the index, is placed at 31,113.3, followed by 30,909.9. On the upside, key resistance levels are placed at 31,528.9 and 31,741.1.

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

Sudarshan Sukhani of s2analytics.com

Buy BPCL with stop loss at Rs 494 and target of Rs 509

Buy Mahanagar Gas with stop loss at Rs 1020 and target of Rs 1075

Buy Jindal Steel & Power with stop loss at Rs 140 and target of Rs 148

Sell Just Dial with stop loss at Rs 575 and target of Rs 550

Mitesh Thakkar of miteshthakkar.com

Buy HDFC Bank with a stop loss of Rs 1232 for target of Rs 1265

Buy JSW Steel with a stop loss of Rs 254 for target of Rs 269

Sell Tata Power with a stop loss of Rs 54.5 for target of Rs 48

Sell HCL Tech with a stop loss of Rs 559 for target of Rs 538

Prakash Gaba of prakashgaba.com

Buy Mahanagar Gas with target at Rs 1060 and stop loss at Rs 1030

Sell Coal India with target at Rs 185 and stop loss at Rs 193

Sell Indiabulls Housing Finance with target at Rs 240 and stop loss at Rs 270

Sell Larsen & Toubro with target at Rs 1250 and stop loss at Rs 1290

Disclaimer: The views and investment tips expressed by investment experts on moneycontrol.com 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 Dec 10, 2019 08:48 am
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