Sudarshan Sukhani of s2analytics.com recommends buying Larsen & Toubro with stop loss at Rs 1335 and target of Rs 1370 and Hexaware Tech with stop loss at Rs 342 and target of Rs 351.
Nifty failed to hold 11,300 as benchmark indices fell for the eighth consecutive session on May 10. The Sensex ended nearly 100 points lower, while Nifty closed at 11,278.
Tata Steel, HCL Tech, Yes Bank, IndusInd Bank and IOC were biggest index losers, while Zee Entertainment, Titan Company, Bharti Airtel, SBI and Indiabulls Housing were gainers.
Metal, IT, pharma, energy, FMCG and auto witnessed selling pressure, while some buying was seen in banks and infra companies. Midcap and smallcap index ended with marginal gains.
According to the Pivot charts, the key support level is placed at 11,238, followed by 11,197.1. If the index starts moving upward, key resistance levels to watch out are 11,332.8 and 11,386.7.
The Nifty Bank index closed at 29,040.5, up 155.9 points on May 10. The important Pivot level, which will act as crucial support for the index, is placed at 28,892.8, followed by 28,745.1. On the upside, key resistance levels are placed at 29,195.5, followed by 29,350.5.
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 1335 and target of Rs 1370
Buy Hexaware Tech with stop loss at Rs 342 and target of Rs 351
Sell Reliance Capital with stop loss at Rs 121 and target of Rs 115
Sell Hindustan Zinc with stop loss at Rs 263 and target of Rs 257
Sell NTPC with stop loss at Rs 127.8 and target of Rs 125
Mitessh Thakkar of mitesshthakkar.com
Sell Eicher Motors with a stop loss of Rs 20750 and target of Rs 19000.
Sell Muthoot Finance with stop loss of Rs 586 and target of Rs 550
Buy RBL Bank with a stop loss of Rs 664 and target of Rs 698
Buy State Bank of India with a stop loss of Rs 302.5 and target of Rs 318
Prakash Gaba of prakashgaba.com
Buy Manappuram Investment with target at Rs 120 and stop loss at Rs 115
Buy NCC with target at Rs 100 and stop loss at Rs 94
Sell Mindtree with target at Rs 960 and stop loss at Rs 980
Sell TCS with target at Rs 2090 and stop loss at Rs 2160Disclaimer: 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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