Mitessh Thakkar of mitesshthakkar.com recommends buying Mahindra & Mahindra with a stop loss of Rs 528 and target of Rs 546 and Reliance Industries with a stop loss of Rs 1262 and target of Rs 1300.
Indian indices ended on a positive note on August 23 on hopes of a stimulus package from the government. Buying was seen in the metal, auto, pharma, infra and IT, while FMCG stocks remained under pressure.
At close, Sensex was up 228.23 points at 36,701.16, while Nifty was up 88.00 points at 10,829.40. About 1,310 shares advanced, 1,125 shares declined, and 130 shares were unchanged.
IndusInd Bank, ITC, ICICI Bank, Eicher Motors and Kotak Mahindra Bank were among major losers on the Nifty, while gainers were Zee Entertainment, Vedanta, UPL, BPCL and Yes Bank.
According to the pivot charts, key support level is placed at 10,690.17, followed by 10,551.03. If the index starts moving upward, key resistance levels to watch out for are 10,915.47 and 11,001.63.
Nifty Bank closed at 26,958.7, down 684.85 points on August 23. The important pivot level, which will act as crucial support for the index, is placed at 26,610.43, followed by 26,262.16. On the upside, key resistance levels are placed at 27,257.13 and 27,555.57.
In an interview to CNBC-TV18, top market experts recommend which stocks to bet on for good returns:
Sudarshan Sukhani of s2analytics.com
Buy HDFC with stop loss at Rs 2000 and target of Rs 2060
Sell Tata Motors with stop loss at Rs 110 and target of Rs 102
Buy Tata Consultancy Services with stop loss at Rs 2225 and target of Rs 2300
Buy Interglobe Aviation with stop loss at Rs 1600 and target of Rs 1700
Mitessh Thakkar of mitesshthakkar.com
Buy Mahindra & Mahindra with a stop loss of Rs 528 and target of Rs 546
Buy Castrol India with a stop loss of Rs 116.5 and target of Rs 125
Buy Reliance Industries with a stop loss of Rs 1262 and target of Rs 1300
Sell Kotak Mahindra Bank around Rs 1490 with stop loss of Rs 1511 for target of 1450
Prakash Gaba of prakashgaba.com
Buy Bata India with target at Rs 1510 and stop loss at Rs 1460
Buy Bharat Electronics with target at Rs 108 and stop loss at Rs97
Buy Mindtree with target at Rs 730 and stop loss at Rs 695
Buy Tata Global Beverage with target at Rs 274 and stop loss at Rs 262
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