Sudarshan Sukhani of s2analytics.com recommends buying Larsen & Toubro with stop loss at Rs 1355 and target of Rs 1380 and ONGC with stop loss at Rs 169 and target of Rs 173.
Benchmark indices fell for the fifth session in a row on May 7 with Sensex plunging 323.71 points and Nifty50 closing below 11,500. Among sectors, Nifty Bank, Metal and Realty were biggest losers, falling more than a percent each while IT was only gainer with moderate gains.
The broader markets also fell in line with frontline indices. The Nifty Midcap index was down 1.2 percent and Smallcap index declined 1 percent.
According to the Pivot charts, the key support level is placed at 11,435.93, followed by 11,373.97. If the index starts moving upward, key resistance levels to watch out are 11,608.43 and 11,718.97.
The Nifty Bank index closed at 29,288.20, down 330.25 points on May 7. The important Pivot level, which will act as crucial support for the index, is placed at 29,076.43, followed by 28,864.67. On the upside, key resistance levels are placed at 29,667.73, followed by 30,047.27.
In an interview to CNBC-TV18, top market experts recommend which stocks to bet on for good returns:
Sudarshan Sukhani of s2analytics.com
Buy Larsen & Toubro with stop loss at Rs 1355 and target of Rs 1380
Buy ONGC with stop loss at Rs 169 and target of Rs 173
Sell Reliance Infra with stop loss at Rs 102.5 and target of Rs 98.5
Sell Bank of India with stop loss at Rs 85.2 and target of Rs 83.8
Sell Jubilant Foodworks with stop loss at Rs 1292 and target of Rs 1268
Prakash Gaba of prakashgaba.com
Buy Birla Corp with target at Rs 580 and stop loss at Rs 540
Sell Dewan Housing Finance with target at Rs 100 and stop loss at Rs 124
Sell Jindal Steel & Power with target at Rs 160 and stop loss at Rs 173
Sell SAIL with target of Rs 50 and stop loss at Rs 54
Mitessh Thakkar of mitesshthakkar.com
Buy Lupin around Rs 845 with stop loss of Rs 834 and target of Rs 877
Sell Tata Global Beverages with a stop loss of Rs 203 and target of Rs 193
Sell Tata Power with a stop loss of Rs 66 and target of Rs 61Disclaimer: 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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