Sudarshan Sukhani of s2analytics.com recommends buying Kotak Mahindra Bank with stop loss at Rs 1494 and target of Rs 1525, HCL Tech with stop loss at Rs 1050 and target of Rs 1078 and Divis Labs with stop loss at Rs 1725 and target of Rs 1760.
The market rallied sharply and touched a historical high in morning trade before reversing all gains later on May 23. This was despite trends indicating a thumping victory for BJP-led NDA in Lok Sabha 2019 elections.
Benchmark indices posted biggest intraday fall in 11 years with the BSE Sensex down 1,314 points and Nifty 384 points from record highs of 40,124.96 and 12,041.15, respectively.At close, the BSE Sensex was down 298.82 points at 38,811.39 while the Nifty 50 shed 80.90 points to 11,657 and formed larger bearish candle on the daily
According to the Pivot charts, the key support level is placed at 11,500.6, followed by 11,344.2. If the index starts moving upward, key resistance levels to watch out are 11,927.3 and 12,197.6.
The Nifty Bank index closed at 30,409.10, down 117.70 points on May 23. The important Pivot level, which will act as crucial support for the index, is placed at 29,899.27, followed by 29,389.43. On the upside, key resistance levels are placed at 31,311.96, followed by 32,214.83.
In an interview to CNBC-TV18, top market experts recommend which stocks to bet on for good returns:
Sudarshan Sukhani of s2analytics.com
Sell Jubilant Life Sciences with stop loss at Rs 522 and target of Rs 507
Sell Motherson Susmi Systems with stop loss at Rs 116.5 and target of Rs 112
Buy Kotak Mahindra Bank with stop loss at Rs 1494 and target of Rs 1525
Buy HCL Tech with stop loss at Rs 1050 and target of Rs 1078
Buy Divis Labs with stop loss at Rs 1725 and target of Rs 1760
Mitessh Thakkar of mitesshthakkar.com
Buy Interglobe Aviation with stop loss of Rs 1525 and target of Rs 1572
Sell Eicher Motors near to Rs 20500 - 20550 with stop loss of Rs 20850 and target of Rs 19800.
Buy City Union Bank with a stop loss of Rs 210 and target of Rs 224
Buy Intellect Design with a stop loss of Rs 234 and target of Rs 250
Prakash Gaba of prakashgaba.com
Buy Mahanagar Gas with target at Rs 920 and stop loss at Rs 860
Sell Bajaj Finserv with target at Rs 7500 and stop loss at Rs 8175
Sell Bata India with target at Rs 1000 and stop loss at Rs 1380
Sell Hindalco Industries with target at Rs 185 and stop loss at Rs 197Disclaimer: 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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