Prakash Gaba of prakashgaba.com recommends buying HDFC Bank with target at Rs 2350 and stop loss at Rs 2300 and Kotak Mahindra Bank with target at Rs 1450 and stop loss at Rs 1400.
Benchmark indices closed near the day's high level helped by late buying on May 16. Nifty finished above 11,250 level with the support of metal, IT and energy stocks.
At close, the Sensex was 278.60 points at 37,393.48, while Nifty was up 100.10 points at 11,257.10. About 1,155 shares advanced, 1,296 shares declined, and 149 shares were unchanged.
Zee Entertainment, BPCL, UltraTech Cement, IOC and Bajaj Finance were among major gainers on the Nifty, while losers were Yes Bank, Bharti Airtel, IndusInd Bank, Coal India and Cipla.
Except for pharma, all other sectoral indices ended higher led by IT, metal, energy, bank, auto, FMCG and infra.
According to the Pivot charts, the key support level is placed at 11,173.1, followed by 11,089.1. If the index starts moving upward, key resistance levels to watch out are 11,311.3 and 11,365.5.
The Nifty Bank index closed at 28,855.3, up 238.85 points on May 16. The important Pivot level, which will act as crucial support for the index, is placed at 28,604.6, followed by 28,353.9. On the upside, key resistance levels are placed at 29,026.8, followed by 29,198.3.
In an interview to CNBC-TV18, top market experts recommend which stocks to bet on for good returns:
Sudarshan Sukhani of s2analytics.com
Buy Reliance Industries with stop loss at Rs 1258 and target of Rs 1285
Buy Kotak Mahindra Bank with stop loss at Rs 1400 and target of Rs 1420
Buy Mindtree with stop loss at Rs 974 and target of Rs 988
Sell Bharat Forge with stop loss at Rs 458 and target of Rs 446
Sell Biocon with stop loss at Rs 533 and target of Rs 520
Disclosure: Reliance Industries Ltd. is the sole beneficiary of Independent Media Trust which controls Network18 Media & Investments Ltd.
Mitessh Thakkar of mitesshthakkar.com
Buy Bajaj Finserv with a stop loss of Rs 7539 and target of Rs 7760
Buy HDFC Bank above Rs 2320 with stop loss of Rs 2304 and target of Rs 2350
Sell Dr Reddy's Labs with a stop loss of Rs 2822 and target of Rs 2760
Buy MCX India with a stop loss of Rs 814 and target of Rs 855
Prakash Gaba of prakashgaba.com
Buy HDFC Bank with target at Rs 2350 and stop loss at Rs 2300
Buy Kotak Mahindra Bank with target at Rs 1450 and stop loss at Rs 1400
Buy Manappuram Finance with target at Rs 126 and stop loss at Rs 120
Sell Interglobe Aviation with target at Rs 1415 and stop loss at Rs 1525Disclaimer: 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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