Mitessh Thakkar of mitesshthakkar.com recommends buying Axis Bank with a stop loss of Rs 739 and target of Rs 775, State Bank of India with a stop loss of Rs 314 and target of Rs 335 and HDFC Bank with a stop loss of Rs 2344 and target of Rs 2400.
The Sensex and the Nifty rallied over 1 percent each, closing near their day's high level on May 17. At close, the Sensex was up 537.29 points at 37930.77, while Nifty was up 150.10 points at 11407.20. About 1,381 shares have advanced, 1,112 shares declined, and 140 shares are unchanged.
Zee Entertainment, Bajaj Finance, Bajaj Finserv, Hero Motocorp and Maruti Suzuki were among major gainers on the Nifty, while losers include Yes Bank, Dr Reddy’s Labs, Vedanta, Hindalco and Infosys.
Among sectors, auto and FMCG index gained 2.5 percent followed by bank and Infra, while selling witnessed in IT, metal and pharma sectors.
According to the Pivot charts, the key support level is placed at 11,302.6, followed by 11,198.0. If the index starts moving upward, key resistance levels to watch out are 11,469.0 and 11,530.8.
The Nifty Bank index closed at 29,450.2, up 594.85 points on May 17. The important Pivot level, which will act as crucial support for the index, is placed at 29,017.66, followed by 28,585.13. On the upside, key resistance levels are placed at 29,721.06, followed by 29,991.93.
In an interview to CNBC-TV18, top market experts recommend which stocks to bet on for good returns:
Sudarshan Sukhani of s2analytics.com
Buy Ramco Cements with stop loss at Rs 735 and target of Rs 760
Buy NTPC with stop loss at Rs 123.5 and target of Rs 128
Buy Bata India with stop loss at Rs 1350 and target of Rs 1395
Sell Apollo Tyres with stop loss at Rs 180 and target of Rs 174
Sell NMDC with stop loss at Rs 91.5 and target of Rs 89
Mitessh Thakkar of mitesshthakkar.com
Buy Axis Bank with a stop loss of Rs 739 and target of Rs 775
Buy State Bank of India with a stop loss of Rs 314 and target of Rs 335
Buy Bharat Electronics with a stop loss of Rs 89.5 and target of Rs 96
Buy HDFC Bank with a stop loss of Rs 2344 and target of Rs 2400
Prakash Gaba of prakashgaba.com
Buy Bharat Electronics with target at Rs 95 and stop loss at Rs 90
Buy Colgate Palmolive with target at Rs 1160 and stop loss at Rs 1131
Buy HDFC Bank with target at Rs 2380 and stop loss at Rs 2340
Buy Maruti Suzuki with target at Rs 7000 and stop loss at Rs 6635Disclaimer: 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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