Prakash Gaba of prakashgaba.com recommends buying Maruti Suzuki with target at Rs 6450 and stop loss at Rs 6030 and Tata Consultancy Services with target at Rs 2240 and stop loss at Rs 2170.
The market snapped three-day winning streak and closed lower on August 20, weighed by banking & financials, FMCG and metals stocks. The weakness in rupee to 71.80 against the US dollar also caused selling pressure in the market.
The BSE Sensex fell 74.48 points to 37,328.01 while the Nifty50 slipped 36.90 points to 11,017 amid volatility and formed bearish candle on daily charts.
Experts feel the rangebound move is expected to continue in coming sessions till the index breaks out range of 10,900-11,150 on either side.
The broader markets fell more than benchmarks as the Nifty Midcap index was down 0.85 percent and Smallcap index declined 0.62 percent.
According to the pivot charts, key support level is placed at 10,976.1, followed by 10,935.2. If the index starts moving upward, key resistance levels to watch out for are 11,067.1 and 11,117.2.
Nifty Bank closed at 27,982.45, down 203.65 points on August 20. The important pivot level, which will act as crucial support for the index, is placed at 27,809.6, followed by 27,636.8. On the upside, key resistance levels are placed at 28,185.3 and 28,388.2.
In an interview to CNBC-TV18, top market experts recommend which stocks to bet on for good returns:
Sudarshan Sukhani of s2analytics.com
Buy Maruti Suzuki with stop loss at Rs 6000 and target of Rs 6500
Buy Interglobe Aviation with stop loss at Rs 1610 and target of Rs 1670
Buy Tech Mahindra with stop loss at Rs 661 and target of Rs 690
Sell YES Bank with stop loss at Rs 72.2 and target of Rs 70
Mitessh Thakkar of mitesshthakkar.com
Sell Century Textiles with stop loss of Rs 877 and target of Rs 840
Buy HCL Tech with stop loss of Rs 1069 and target of Rs 1115
Sell L&T Finance Holdings with stop loss of Rs 101.5 and target of Rs 92
Buy Max Financial Services with a stop loss of Rs 433 and target of Rs 455
Prakash Gaba of prakashgaba.com
Buy Maruti Suzuki with target at Rs 6450 and stop loss at Rs 6030
Buy Tata Consultancy Services with target at Rs 2240 and stop loss at Rs 2170
Sell Ambuja Cements with target at Rs 200 and stop loss at Rs210
Sell L&T Finance with target at Rs 90 and stop loss at Rs 102Disclaimer: 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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