Rajat Bose of rajatkbose.com recommends buying Bharat Electronics with stop loss below Rs 111.25 for target of Rs 117.75, DLF with stop loss below Rs 191.75 for target of Rs 199 and Siemens with stop loss below Rs 1285 for target of Rs 1330.
The market reversed all its previous day gains and ended F&O expiry session at record closing high on May 30, driven by index heavyweights HDFC Twins and Reliance Industries ahead of Modi 2.0 government formation and Q4 GDP data due later in the day.
The BSE Sensex rallied 329.92 points to 39,831.97 while the Nifty 50 climbed 84.80 points to 11,945.90, forming a bullish candle on daily charts. The index gained 2.6 percent in May series.
The broader markets also participated in the rally. The Nifty Midcap index gained 0.8 percent and Smallcap index rose 0.4 percent.
According to the Pivot charts, the key support level is placed at 11,880.7, followed by 11,815.5. If the index starts moving upward, key resistance levels to watch out are 11,989.8 and 12,033.7.
The Nifty Bank index closed at 31,537.10, up 241.55 points on May 30. The important Pivot level, which will act as crucial support for the index, is placed at 31,309.07, followed by 31,081.03. On the upside, key resistance levels are placed at 31,692.17, followed by 31,847.23.
In an interview to CNBC-TV18, top market experts recommend which stocks to bet on for good returns:
Sudarshan Sukhani of s2analytics.com
Buy UltraTech Cement with stop loss at Rs 4730 and target of Rs 4810
Buy Manappuram Finance with stop loss at Rs 135.5 and target of Rs 138.5
Sell CG Power with stop loss at Rs 37.2 and target of Rs 35.5
Buy ICICI Bank with stop loss at Rs 423 and target of Rs 434
Buy DCB Bank with stop loss at Rs 232 and target of Rs 239
Rajat Bose of rajatkbose.com
Buy Bharat Electronics with stop loss below Rs 111.25 for target of Rs 117.75
Buy DLF with stop loss below Rs 191.75 for target of Rs 199
Buy Siemens with stop loss below Rs 1285 for target of Rs 1330
Prakash Gaba of prakashgaba.com
Buy Bajaj Finance with target at Rs 3600 and stop loss at Rs 3430
Buy Indraprastha Gas with target at Rs 350 and stop loss at Rs 331
Sell Godfrey Philips with target at Rs 900 and stop loss at Rs 975Disclaimer: 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!
Unlock 75% more savings this festive season. Get Moneycontrol Pro for a year for Rs 289 only.
Coupon code: DIWALI. Offer valid till 10th November, 2019 .