Sudarshan Sukhani of s2analytics.com recommends buying ACC with stop loss at Rs 1650 and target of Rs 1685, Kotak Mahindra Bank with stop loss at Rs 1474 and target of Rs 1524 and Ujjivan Financial Services with stop loss at Rs 334 and target of Rs 346.
Benchmark indices ended at fresh record closing high on May 20 after posting the biggest single-session gain since 2009. The Sensex and Nifty rallied over 3.5 percent each, as exit polls of Lok Sabha election 2019 suggested a clear majority for BJP led NDA government.
The Sensex ended the day with gains of 1,421.90 points or 3.75 percent at 39352.67, while Nifty ended up 421.10 points or 3.69 percent at 11,828.30. About 2013 shares advanced, 613 shares declined, and 155 shares remained unchanged.
Indiabulls Housing, IndusInd Bank, Adani Ports, SBI and Tata Motors were among major gainers on the Nifty, while Dr Reddy’s Labs, Zee Entertainment, Bajaj Auto, Tech Mahindra and Infosys were losers.
All sectoral indices ended in the green led by PSU banks, infra, auto, energy, FMCG, metal and pharma.
According to the Pivot charts, the key support level is placed at 11,664.87, followed by 11,501.53. If the index starts moving upward, key resistance levels to watch out are 11,918.37and 12,008.53.
The Nifty Bank index closed at 30,759.7, up 1,309.55 points on May 20. The important Pivot level, which will act as crucial support for the index, is placed at 30,304.67, followed by 29,849.63. On the upside, key resistance levels are placed at 31,021.27, followed by 31,282.84.
In an interview to CNBC-TV18, top market experts recommend which stocks to bet on for good returns:
Sudarshan Sukhani of s2analytics.com
Buy ACC with stop loss at Rs 1650 and target of Rs 1685
Buy Kotak Mahindra Bank with stop loss at Rs 1474 and target of Rs 1524
Buy Ujjivan Financial Services with stop loss at Rs 334 and target of Rs 346
Buy Tata Global Beverage with stop loss at Rs 231 and target of Rs 239
Sell NMDC with stop loss at Rs 97.2 and target of Rs 94.5
Mitessh Thakkar of mitesshthakkar.com
Buy Cummins India with a stop loss of Rs 750 and target of Rs 800
Buy Mahindra & Mahindra with a stop loss of Rs 644 and target of Rs 670
Buy Reliance Infra with a stop loss of Rs 117 and target of Rs 129
Buy State Bank of India with a stop loss of Rs 333 and target of Rs 370
Prakash Gaba of prakashgaba.com
Buy Bharat Financial Inclusion with target at Rs 975 and stop loss at Rs 890
Buy Hindalco Industries with target at Rs 205 and stop loss at Rs 195
Buy United Spirits with target of Rs 570 and stop loss at Rs 540
Buy UPL with target at Rs 1050 and stop loss at Rs 997Disclaimer: 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.Subscribe to Moneycontrol Pro and gain access to curated markets data, exclusive trading recommendations, independent equity analysis, actionable investment ideas, nuanced takes on macro, corporate and policy actions, practical insights from market gurus and much more.