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The 50-share NSE Nifty after opening at 11,056.90 extended gains to hit an intraday high of 11,071.35, but wiped out those gains in the morning trade itself to hit day's low of 10,999.75. It traded in a range of about 30 points for rest of the day but did not break previous day's intraday low of 10,999.65.
According to Pivot charts, the key support level is placed at 10,988.7, followed by 10,958.5. If the index starts moving upwards, key resistance levels to watch out are 11,060.2 and 11,101.5.
The Nifty Bank index closed at 26,935.95, down 90.6 points on Friday. The important Pivot level, which will act as crucial support for the index, is placed at 26,858.03, followed by 26,780.17. On the upside, key resistance levels are placed at 27,058.03, followed by 27,180.17.
In an interview to CNBC-TV18, top market experts recommend which stocks to bet on for good returns:
Ashwani Gujral of ashwanigujral.com
Buy Asian Paints with a stop loss of Rs 1350, target of Rs 1410
Buy Britannia Industries with a stop loss of Rs 6400, target of Rs 6620
Sell REC with a stop loss of Rs 98, target of Rs 92
Sell Jet Airways with a stop loss of Rs 336, target of Rs 330
Sell Jindal Steel & Power with a stop loss of Rs 210, target of Rs 198
Mitessh Thakkar of mitesshthakkar.com
Sell Biocon with a stop loss of Rs 611 and target of Rs 575
Buy GAIL India with a stop loss below Rs 350 for target of Rs 375
Buy Piramal Enterprises with a stop loss of Rs 2490 and target of Rs 2575
Sell Canara Bank with a stop loss of 238 and target of Rs 215
Sudarshan Sukhani of s2analytics.com
Buy HDFC with a stop loss at Rs 1958 and target of Rs 1990
Buy NIIT Tech with a stop loss at Rs 1120 and target of Rs 1175
Buy Dr Reddy's Labs with a stop loss at Rs 2300 and target of Rs 2345
Sell Can Fin Homes with a stop loss at Rs 336 and target of Rs 323
Sell Cummins India with a stop loss at Rs 665 and target of Rs 635
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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