Prakash Gaba of prakashgaba.com recommends buying Bharat Forge with target at Rs 505 and stop loss at Rs 475, Exide Industries with target at Rs 224 and stop loss at Rs 214 and Indiabulls Housing Finance with target at Rs 740 and stop loss at Rs 685.
Benchmark indices failed to hold its gains and ended flat, but the Nifty managed to hold 11,700, while Sensex failed to hold above 39,000. The Sensex was down 18.17 points at 38,963.26, while Nifty was down 12.50 points at 11,712.30.
Indiabulls Housing, NTPC, Yes Bank, Bharti Airtel and ICICI Bank were top gainers on the Nifty, while losers include TCS, Britannia Industries, Tech Mahindra, Adani Ports and HUL.
Among sectors, FMCG, IT, pharma and metal ended were in the red, while some buying was seen in the auto, bank, energy and infra sectors. BSE Midcap index and BSE smallcap index also ended lower.
According to the Pivot charts, the key support level is placed at 11,684.03, followed by 11,655.87. If the index starts moving upward, key resistance levels to watch out are 11,755.63 and 11,799.07.
The Nifty Bank closed at 29,954.2, up 245.55 points on May 3. The important Pivot level, which will act as crucial support for the index, is placed at 29,792.26, followed by 29,630.33. On the upside, key resistance levels are placed at 30,118.96, followed by 30,283.73.
In an interview to CNBC-TV18, top market experts recommend which stocks to bet on for good returns:
Sudarshan Sukhani of s2analytics.com
Buy Bajaj Auto with stop loss at Rs 3043 and target of Rs 3075
Sell BHEL with stop loss at Rs 69.5 and target of Rs 67
Sell Reliance Infra with stop loss at Rs 114 and target of Rs 106
Sell Engineers India with stop loss at Rs 111.5 and target of Rs 109
Sell Bank of Baroda with stop loss at Rs 120.5 and target of Rs 117
Mitessh Thakkar of mitesshthakkar.com
Sell Bata India with a stop loss of Rs 1455 and target of Rs 1410
Buy Bajaj Auto with a stop loss of Rs 3029 and target of Rs 3115
Sell LIC Housing Finance with a stop loss of Rs 490.5 and target of Rs 471
Buy Federal Bank with a stop loss of Rs 95.5 and target of Rs 102
Prakash Gaba of prakashgaba.com
Buy Bharat Forge with target at Rs 505 and stop loss at Rs 475
Buy Exide Industries with target at Rs 224 and stop loss at Rs 214
Buy Indiabulls Housing Finance with target at Rs 740 and stop loss at Rs 685
Sell Tech Mahindra with target at Rs 800 and stop loss at Rs 823Disclaimer: 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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