The market rallied sharply and posted biggest single day gain in last three months on August 26, driven by rally across sectors except metals. The measures to boost economy and possible trade talks between
US-China lifted sentiment.
The BSE Sensex surged 792.96 points or 2.16 percent to 37,494.12 while the Nifty50 rose 228.50 points or 2.11 percent to close above psychological 11,000 levels, at 11,057.90 and formed bearish candle on daily charts.
The market breadth remained in favour of bulls as more than two shares advanced for every share declining on the NSE. The Nifty Midcap index was up 1.6 percent and Smallcap index gained 2.3 percent.
According to the pivot charts, key support level is placed at 10,852.77, followed by 10,647.73. If the index starts moving upward, key resistance levels to watch out for are 11,166.57 and 11,275.33.
Nifty Bank closed at 27,951.35, up 992.70 points on August 26. The important pivot level, which will act as crucial support for the index, is placed at 27,208.66, followed by 26,466.03. On the upside, key resistance levels are placed at 28,344.56 and 28,737.83.
In an interview to CNBC-TV18, top market experts recommend which stocks to bet on for good returns:
Sudarshan Sukhani of s2analytics.com
Buy Tata Consultancy Services with stop loss at Rs 2245 and target of Rs 2350
Buy Balkrishna Industries with stop loss at Rs 735 and target of Rs 770
Buy Interglobe Aviation with stop loss at Rs 1640 and target of Rs 1750
Sell Tata Steel with a stop loss at Rs 345 and target of Rs 330
Mitessh Thakkar of mitesshthakkar.com
Buy Bosch with a stop loss of Rs 13900 and target of Rs 14750
Buy Apollo Hospitals with a stop loss of Rs 1440 and target of Rs 1510
Buy MCX India with a stop loss of Rs 874 and target of Rs 925
Buy Escorts with a stop loss of Rs 462 and target of Rs 500
Prakash Gaba of prakashgaba.com
Buy CESC with target at Rs 790 and stop loss at Rs 760
Buy Dabur India with target at Rs 445 and stop loss at Rs 430
Buy Pidilite Industries with target at Rs 1420 and stop loss at Rs 1365
Buy Strides Pharma with target at Rs 405 and stop loss at Rs 380
Disclaimer: 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.
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