Mitessh Thakkar of mitesshthakkar.com recommends buying Buy Engineers India with a stop loss of Rs 114 and target of Rs 125, GSFC with a stop loss of Rs 103 and target of Rs 1111 and Bharti Infratel with a stop loss of Rs 320 and target of Rs 342.
Nifty, after a choppy trade initially, gained strength in the last couple of hours of trade on March 19 and continued uptrend for the seventh consecutive session to close above psychological 11,500 level for the first time since September 14, 2018.
The index formed a bullish candle, resembling a 'Hanging Man' pattern on the daily chart. In fact, the Hanging Man pattern has been seen in the last two out of five sessions.
A consistent rally brought the market to overbought levels, hence the upside from hereon looks limited, experts said, adding the correction or sideways trade could be possible in coming sessions.
Nifty after opening higher at 11,500 remained volatile and hit an intraday low of 11,451.25, but managed to gain strength in the last couple of hours of trade and hit a day's high of 11,543.85. The index finally closed up 70.20 points at 11,532.40.
Maximum Put open interest (OI) was at 11,000 followed by 11,300 strike and maximum Call OI was at 11,500 followed by 11,600 strike. Meaningful Put writing was at 11,500 followed by 11,400 strike while Call unwinding was at all the immediate strikes with minor Call Writing at 11,800 strike. Option band signifies a shift in a higher trading range between 11,400 and 11,700 zones.
In an interview to CNBC-TV18, top market experts recommend which stocks to bet on for good returns:
Sudarshan Sukhani of s2analytics.com
Buy Infosys with stop loss at Rs 712 and target of Rs 735
Buy Tata Chemicals with stop loss at Rs 581 and target of Rs 605
Buy Hindustan Unilever with stop loss at Rs 1685 and target of Rs 1715
Sell Bharat Forge with stop loss at Rs 521 and target of Rs 498
Sell Castrol India with stop loss at Rs 161 and target of Rs 152
Mitessh Thakkar of mitesshthakkar.com
Buy Engineers India with a stop loss of Rs 114 and target of Rs 125
Buy GSFC with a stop loss of Rs 103 and target of Rs 111
Buy Bharti Infratel with a stop loss of Rs 320 and target of Rs 342
Buy ITC with a stop loss of Rs 295 and target of Rs 309
Prakash Gaba of prakashgaba.com
Buy Century Textiles with target at Rs 940 and stop loss at Rs 890
Buy GSFC with target at Rs 110-113 and stop loss at Rs 103
Buy Siemens with target at Rs 1080 and stop loss at Rs 1030
Buy Havells India with target at Rs 780 and stop loss at Rs 750Disclaimer: 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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