Prakash Gaba of prakashgaba.com recommends buying Hindustan Unilever with target at Rs 1920 and stop loss at Rs 1865 and Page Industries with target at Rs 20000 and stop loss at Rs 18000.
Sensex and the Nifty, snapped a two-day losing streak to end with healthy gains on August 30, as hopes of a stimulus from the government lifted sentiment.
The rupee's rise against the US dollar and a positive global sentiment after the US and China resumed trade negotiations, all worked to keep the market in the positive zone.
The rally in equities shot up the cumulative market capitalisation of BSE firms to Rs 1,40,98,451.66 crore from Rs 1,39,83,324.95 crore on August 29, making investors richer by Rs 1.15 lakh crore.
The Nifty closed above the psychological 11,000-mark and formed a hammer pattern on the daily chart. It also snapped a two-week losing streak and gained 1.8 percent to form a spinning-top pattern on the weekly scale.
According to the pivot charts, key support level is placed at 10,917.8, followed by 10,812.4. If the index remains on the upward trajectory, key resistance levels to watch out for are 11,085.6 and 11,148.
The Nifty Bank closed at 27,427.85, up 0.45 percent on August 30. The important pivot level, which will act as crucial support for the index, is placed at 27,170.97, followed by 26,914.13. On the upside, key resistance levels are placed at 27,635.57 and 27,843.33.
In an interview to CNBC-TV18, top market experts recommend which stocks to bet on for good returns:
Sudarshan Sukhani of s2analytics.com
Buy Piramal Enterprises with stop loss at Rs 1950 and target of Rs 2150
Buy Escorts with stop loss at Rs 500 and target of Rs 535
Sell YES Bank with stop loss at Rs 63 and target of Rs 55
Sell Coal India with stop loss at Rs 189 and target of Rs 175
Mitessh Thakkar of mitesshthakkar.com
Sell Kotak Mahindra Bank with a stop loss of Rs 1445 and target of Rs 1400
Buy Page Industries around Rs 18500 with stop loss below Rs 18300 and target of Rs 19150
Sell Ramco Cements with a stop loss of Rs 737 and target of Rs 706
Buy Sun Pharma around Rs 446 with stop loss of Rs 438 and target of Rs 465
Prakash Gaba of prakashgaba.com
Buy Hindustan Unilever with target at Rs 1920 and stop loss at Rs 1865
Buy Page Industries with target at Rs 20000 and stop loss at Rs 18000
Buy Siemens with target at Rs 1275 and stop loss at Rs 1175
Buy Sun Pharma with target at Rs 470 and stop loss at Rs 440Disclaimer: 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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