Prakash Gaba of prakashgaba.com recommends buying Axis Bank with target at Rs 830 and stop loss at Rs 800 and Hindustan Unilever with target at Rs 1800 and stop loss at Rs 1700.
The market continued its positive momentum for the second consecutive session and ended at fresh record closing high on May 27. Banking & financials and metals led uptrend.
The broader market outperformed the frontlines as the Nifty Midcap and Smallcap indices gained 1.6 percent each.
The BSE Sensex rallied 248.57 points to 39,683.29 while the Nifty50 rose 80.70 points to 11,924.80, forming a bullish candle on the daily charts indicating a bullish trend. Rangebound trade in the second half of the day's session, however, made traders a bit cautious, experts said.
According to the Pivot charts, the key support level is placed at 11,839.07, followed by 11,753.33. If the index starts moving upward, key resistance levels to watch out are 11,983.87 and 12,042.93.
The Nifty Bank index closed at 31,647.65, up 435.10 points on May 27. The important Pivot level, which will act as crucial support for the index, is placed at 31,293.2, followed by 30,938.7. On the upside, key resistance levels are placed at 31,851.5, followed by 32,055.3.
In an interview to CNBC-TV18, top market experts recommend which stocks to bet on for good returns:
Sudarshan Sukhani of s2analytics.com
Buy Britannia Industries with stop loss at Rs 2875 and target of Rs 2940
Buy Kotak Mahindra Bank with stop loss at Rs 1510 and target of Rs 1545
Buy Interglobe Avviation with stop loss at Rs 1646 and target of Rs 1685
Buy V-Guard Industries with stop loss at Rs 218 and target of Rs 225
Sell Zee Entertainment with stop loss at Rs 368 and target of Rs 352Rajat Bose of rajatkbose.com
Buy Larsen & Toubro on any intraday declines up to Rs 1580 with stop loss below Rs 1564 for targets of Rs 1610 and Rs 1622.
Buy Aurobindo Pharma with stop loss below Rs 674 for targets of Rs 691 and Rs 696
Buy Axis Bank with stop loss below Rs 803.80 for targets of Rs 825 and Rs 828.
Sell Asian Paints with stop loss above Rs 1382 for targets of Rs 1354 and Rs 1349.
Prakash Gaba of prakashgaba.com
Buy Axis Bank with target at Rs 830 and stop loss at Rs 800
Buy Hindustan Unilever with target at Rs 1800 and stop loss at Rs 1700
Buy Indian Oil Corporation with target at Rs 170 and stop loss at Rs 159
Buy RBL Bank with target at Rs 730 and stop loss at Rs 680Disclaimer: 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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