Ashwani Gujral of ashwanigujral.com is of the view that one can buy Ashok Leyland with a stop loss of Rs 118, target of Rs 126 and can sell HDFC with a stop loss of Rs 1945, target of Rs 1890 and Larsen & Toubro with a stop loss of Rs 1300, target of Rs 1240.
Bears finally and decisively took charge of Dalal Street Thursday with the Nifty50 extending early losses and breaking the psychological 11,300-mark on profit booking.
The index closed sharply lower, forming 'Bearish Belt Hold' pattern on the daily candlestick chart. Weak global cues amid renewed trade war concerns dented market sentiment.
The 50-share NSE Nifty after opening at 11,328.90 which was also an intraday high traded sharply lower to break the 11,300-mark and hit an intraday low of 11,234.95.
The index closed 101.50 points lower at 11,244.70, but the broader markets outperformed frontliners with the Nifty Midcap index rising 0.1 percent. India VIX moved up by 0.45 percent at 12.58. Overall lower volatility suggests that bulls are likely to hold the market on declines near to major support zones.
According to Pivot charts, the key support level is placed at 11,210.17, followed by 11,175.63. If the index starts moving upwards, key resistance levels to watch out are 11,304.07 and 11,363.43.
The Nifty Bank index closed at 27,355.95, down 240.65 points on Thursday. The important Pivot level, which will act as crucial support for the index, is placed at 27,293.24, followed by 27,230.57. On the upside, key resistance levels are placed at 27,453.24, followed by 27,550.57.
In an interview to CNBC-TV18, top market experts recommend which stocks to bet on for good returns:
Ashwani Gujral of ashwanigujral.com
Buy Ashok Leyland with a stop loss of Rs 118, target of Rs 126
Sell HDFC with a stop loss of Rs 1945, target of Rs 1890
Sell Larsen & Toubro with a stop loss of Rs 1300, target of Rs 1240
Sell Motherson Sumi Systems with a stop loss of Rs 309, target of Rs 294
Buy NIIT Technologies with a stop loss of Rs 1230, target of Rs 1275
Prakash Gaba of prakashgaba.com
Buy United Spirits with target at Rs 618 and stop loss at Rs 588
Sell Bank Of Baroda with target at Rs 142 and stop loss at Rs 150
Sell Just Dial with target at Rs 530 and stop loss at Rs 560
Sell Maruti Suzuki with t arget at Rs 9000 and stop loss at Rs 9250
Mitessh Thakkar of mitesshthakkar.com
Buy Bank of Baroda with a stop loss of Rs 142.5 and target of Rs 156
Buy Sun Pharma with a stop loss of Rs 569 and target of Rs 605
Buy Equitas Holdings with a stop loss of Rs 142 and target of Rs 154
Buy GSFC with a stop loss of Rs 112.2 and target of Rs 120
Sell DCB Bank below Rs 159 with stop loss of Rs 163.25 and target of Rs 150Disclaimer: 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.