Sudarshan Sukhani of s2analytics.com recommends buying Bajaj Finserv with stop loss at Rs 7575 and target of Rs 7750 and UlltraTech Cement with stop loss at Rs 4480 and target of Rs 4580.
Benchmark indices recovered from the day's low but ended nearly a percent lower on May 6 due to fresh trade worries between the US and China. The Sensex ended down 362.92 points at 38,600.34, while Nifty closed 114 points lower at 11,598.30.
Except IT, all other sectoral indices ended in the red led by metal, infra, bank, auto, pharma and FMCG. BSE Midcap index and BSE smallcap index also ended lower.
According to the Pivot charts, the key support level is placed at 11,568.83, followed by 11,539.47. If the index starts moving upward, key resistance levels to watch out are 11,630.03 and 11,661.87.
The Nifty Bank closed at 29,618.45, down 335.7 points on May 6. The important Pivot level, which will act as crucial support for the index, is placed at 29,512.2, followed by 29,406. On the upside, key resistance levels are placed at 29,741.0, followed by 29,863.6.
In an interview to CNBC-TV18, top market experts recommend which stocks to bet on for good returns:
Sudarshan Sukhani of s2analytics.com
Buy Bajaj Finserv with stop loss at Rs 7575 and target of Rs 7750
Buy UlltraTech Cement with stop loss at Rs 4480 and target of Rs 4580
Sell Indiabulls Housing Finance with stop loss at Rs 694 and target of Rs 675
Sell Reliance Capital with stop loss at Rs 129.5 and target of Rs 122
Sell United Spirits with stop loss at Rs 527 and target of Rs 516
Mitessh Thakkar of mitesshthakkar.com
Sell Zee Entertainment with a stop loss of Rs 397 and target of Rs 370
Buy Ajanta Pharma with a stop loss of Rs 1049 and target of Rs 1100
Sell Bajaj Finance with a stop loss of Rs 3076 and target of Rs 2950
Buy Federal Bank with a stop loss of Rs 98 and target of Rs 105Prakash Gaba of prakashgaba.com
Buy ITC with target at Rs 310 and stop loss at Rs 304
Buy Mindtree with target at Rs 995 and stop loss at Rs 975
Sell NMDC with target at Rs 93 and stop loss at Rs 98
Sell Ujjivan Financial Services with target at Rs 300 and stop loss at Rs 317Disclaimer: 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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