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The Nifty 50 finally managed to decisively close above 10,600 levels on November 15 after consolidating for nine straight sessions. Gains were driven by banking & financials, auto and metals stocks.
The index closed 40.40 points higher at 10,616.70 and formed a small bullish candle on the daily charts.
Closing above 10,600 levels indicated it could rally further in the coming sessions, experts said.
India VIX fell 1.47 percent to 18.55 levels. However, VIX has to cool down below 16 zones to get the next leg of smooth upside rally in the market.
According to Pivot charts, the key support level is placed at 10,567.3, followed by 10,517.9. If the index starts moving upwards, key resistance levels to watch out are 10,656.3 and then 10,695.9.
The Nifty Bank index closed at 26,154.75, up 224.60 points on Thursday. The important Pivot level, which will act as crucial support for the index, is placed at 25,856.01, followed by 25,557.2. On the upside, key resistance levels are placed at 26,325.61, followed by 26,496.4.
In an interview to CNBC-TV18, top market experts recommend which stocks to bet on for good returns:
Ashwani Gujral of ashwanigujral.com
Buy Power Finance Corporation with a stop loss of Rs 104, target of Rs 116
Buy Titan Company with a stop loss of Rs 910, target of Rs 945
Buy Maruti Suzuki with a stop loss of Rs 7450, target of Rs 7600
Sell Petronet LNG with a stop loss of Rs 217, target of Rs 203
Sell NBCC with a stop loss of Rs 62, target of Rs 56
Mitessh Thakkar of mitesshthakkar.com
Buy Axis Bank with a stop loss of Rs 617 and target of Rs 645
Buy Colgate Palmolive with a stop loss of Rs 1114 and target of Rs 1160
Buy IRB Infra above Rs 145 with stop loss of Rs 141.5 and target of Rs 154
Sell Sun TV Network with a stop loss of Rs 609 and target of Rs 570
Prakash Gaba of prakashgaba.com
Buy Dalmia Bharat with target at Rs 2350 and stop loss at Rs 2200
Buy Maruti Suzuki with t arget at Rs 7600 and stop loss at Rs 7320
Buy MCX India with target at Rs 740 and stop loss at Rs 700
Sell Vodafone Idea with t arget at Rs 32 and stop loss at Rs 40
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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