Benchmark indices started off November month on a flat note on Thursday after losing around 5 percent in previous month. It was a roller coaster ride for the market amid mixed quarterly earnings and October sales. The broader markets outperformed frontliners with Nifty Midcap index gaining 0.87 percent.
The Nifty index after opening sharply higher at 10,441.70, which was also the intraday high, traded in a tight range of 70 points throughout the session. It touched a day's low of 10,341.90, before closing 6.10 points lower at 10,380.50.
The index made small bearish candle on daily charts, which resembles a 'Bearish Belt Hold' kind of pattern.
According to Pivot charts, the key support level is placed at 10,334.3, followed by 10,288.1. If the index starts moving upwards, key resistance levels to watch out are 10,434.3 and then 10,488.1.
The Nifty Bank index closed at 25,323.65, up 170.40 points on Thursday. The important Pivot level, which will act as crucial support for the index, is placed at 25,168.2, followed by 25,012.7. On the upside, key resistance levels are placed at 25,440.4, followed by 25,557.1.
In an interview to CNBC-TV18, top market experts recommend which stocks to bet on for good returns:
Ashwani Gujral of ashwanigujral.com
Buy Divis Labs with a stop loss of Rs 1490, target of Rs 1540
Buy Interglobe Aviation with a stop loss of Rs 918, target of Rs 945
Buy BEML with a stop loss of Rs 627, target of Rs 645
Buy L&T Finance Holdings with a stop loss of Rs 132, target of Rs 144
Buy Axis Bank with a stop loss of Rs 597, target of Rs 620
Mitessh Thakkar of mitesshthakkar.com
Buy Granules India with a stop loss of Rs 99 and target of Rs 106
Buy NBCC with a stop loss of Rs 55 and target of Rs 64
Buy Torrent Pharma with a stop loss of Rs 1677 and target of Rs 1800
Buy Century Textiles & Industries with a stop loss of Rs 820.5 and target of Rs 865
Prakash Gaba of prakashgaba.com
Buy Dalmia Bharat with target at Rs 2200 and stop loss at Rs 2100
Buy BEML with target at Rs 675 and stop loss at Rs 600
Buy Hindalco Industries with target at Rs 238 and stop loss at Rs 225
Sell Dabur India with target at Rs 360 and stop loss at Rs 380
Disclaimer: 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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