Mitessh Thakkar of mitesshthakkar.com suggests buying Balrampur Chini with a stop loss of Rs 76 and target of Rs 81, Bosch with a stop loss of Rs 20,900 and target of Rs 22,000 and Cadila Heathcare with a stop loss of Rs 412 and target of Rs 445.
The Nifty50 opened sharply higher but wiped out all gains in afternoon as the rupee breached 72 a dollar for the first time on Thursday. The index managed to rebound in the last couple of hours of trade and closed higher after three-day consecutive fall.
The Nifty hold on to its crucial support placed at 11,500 levels and made a small bullish candle which looked like a 'Hammer' like pattern on daily charts.
The Nifty50 started off day on a strong note at 11,514.15 but volatility caused due to further weakness in rupee pulled the index down to intraday low of 11,436.05. It managed to recoup those losses in later part of the session and hit day's high of 11,562.25 following recovery in currency from all-time low. The index finally closed 59.90 points higher at 11,536.90 but the rupee ended at record closing low of 71.9875, down 23 paise.
India VIX move up by 1.02 percent to 13.79. Pause in the VIX after the sharp spurt of 10 percent indicates some consolidation could be seen with support zones, experts said.
According to Pivot charts, the key support level is placed at 11,461.2, followed by 11,385.5. If the index starts moving upwards, key resistance levels to watch out are 11,587.4 and 11,637.9.
The Nifty Bank index closed at 27,468.70, up 92.65 points on Thursday. The important Pivot level, which will act as crucial support for the index, is placed at 27,292.34, followed by 27,115.97. On the upside, key resistance levels are placed at 27,598.94, followed by 27,729.17.
In an interview to CNBC-TV18, top market experts recommend which stocks to bet on for good returns:
Ashwani Gujral of ashwanigujral.com
Buy Torrent Power with a stop loss of Rs 260, target of Rs 274
Buy Divis Laboratories with a stop loss of Rs 1300, target of Rs 1365
Buy Granules India with a stop loss of Rs 119, target of Rs 126
Sell Sun TV Network with a stop loss of Rs 705, target of Rs 680
Sell Maruti Suzuki with a stop loss of Rs 8800, target of Rs 8650
Prakash Gaba of prakashgaba.com
Buy Cipla with target at Rs 675 and stop loss at Rs 650
Buy Havells India with target at Rs 700 and stop loss at Rs 660
Buy Reliance Industries with target at Rs 1300 and stop loss at Rs 1228
Sell Idea Cellular with target at Rs 40 and stop loss at Rs 48
Mitessh Thakkar of mitesshthakkar.com
Buy Balrampur Chini with a stop loss of Rs 76 and target of Rs 81
Buy Bosch with a stop loss of Rs 20,900 and target of Rs 22,000
Buy Cadila Healthcare with a stop loss of Rs 412 and target of Rs 445
Sell Cholamandalam Investment with a stop loss of Rs 1430 and target of Rs 1350
Buy Cipla above Rs 665 with stop loss of Rs 659 and target of Rs 680Disclaimer: 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.