Prakash Gaba of prakashgaba.com recommends buying Apollo Tyres with target at Rs 185 and stop loss at Rs 172 and Bharat Electronics with target at Rs 115 and stop loss at Rs 104.
After a subdued start, the market slipped in the red and traded with negative bias in the first half. However, it managed to pull back from the lows and ended the session higher.
Sensex closed 162 points, or 0.44 percent, higher at 36,724.74, with 18 stocks in the green. The Nifty index logged a gain of 47 points or 0.43 percent to settle at 10,844.65, with 30 stocks ending in the positive.
Midcaps and smallcaps underperformed Sensex as their sectoral indices on BSE climbed up to 0.29 percent.
The index is still trading below crucial short term moving averages and despite the bounce, the trend is still negative, suggest experts. Traders are advised to trade with strict stop losses as long as the index trades above 10,756-10637 levels.
According to the pivot charts, the key support level is placed at 10,774.4, followed by 10,704.1. If the index remains on an upward trajectory, key resistance levels to watch out for are 10,886.9 and 10,929.1.
The Nifty Bank index closed at 27,123.85, up 1.12 percent. The important pivot level, which will act as a crucial support for the index, is placed at 26,750.5, followed by 26,377.2. On the upside, key resistance levels are placed at 27,387.9 and 27,652.
In an interview to CNBC-TV18, top market experts recommend which stocks to bet on for good returns:
Sudarshan Sukhani of s2analytics.com
Buy Cadila Healthcare with stop loss at Rs 226 and target of Rs 240
Buy Biocon with stop loss at Rs 224 and target of Rs 245
Buy Tata Consultancy Services with stop loss at Rs 2210 and target of Rs 2300
Sell Tata Motors with stop loss at Rs 113 and target of Rs 104
Prakash Gaba of prakashgaba.com
Buy Apollo Tyres with target at Rs 185 and stop loss at Rs 172
Buy Bharat Electronics with target at Rs 115 and stop loss at Rs 104
Buy M&M Financial Services with target at Rs 340 and stop loss at Rs 317
Buy UPL with target at Rs 600 and stop loss at Rs 548Disclaimer: 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.Get access to India's fastest growing financial subscriptions service Moneycontrol Pro for as little as Rs 599 for first year. Use the code "GETPRO". Moneycontrol Pro offers you all the information you need for wealth creation including actionable investment ideas, independent research and insights & analysis For more information, check out the Moneycontrol website or mobile app.