Ashwani Gujral of ashwanigujral.com suggests buying Bajaj Finserv with a stop loss of Rs 6900, target of Rs 7150, ACC with a stop loss of Rs 1500, target of Rs 1585 and Radico Khaitan with a stop loss of Rs 430, target of Rs 456.
After opening lower the Nifty50 traded in a negative territory amid consolidation. The index managed to recoup losses in the last hour of trade to end at record closing high for the fourth consecutive session Tuesday as investors eyed the monetary policy committee's rate decision on August 1.
The index formed bullish candle on the daily charts, which also resembles a 'Hanging Man' kind of pattern on the daily charts.
The 50-share NSE Nifty opened lower at 11,311.05 and hit an intraday low of 11,267.75, but it managed to recoup morning losses in the last hour of trade and touched an intraday all-time high of 11,366. The index closed 37 points higher at 11,356.50. India VIX dropped 1.25 percent to 12.43. Overall lower volatility suggests bulls are holding the tight grip on the market.
According to Pivot charts, the key support level is placed at 11,294.2, followed by 11,231.9. If the index starts moving upwards, key resistance levels to watch out are 11,392.4 and 11,428.3.
The Nifty Bank index closed at 27,764.15, down 78.45 points on Tuesday. The important Pivot level, which will act as crucial support for the index, is placed at 27,663.94, followed by 27,563.67. On the upside, key resistance levels are placed at 27,851.84, followed by 27,939.47.
In an interview to CNBC-TV18, top market experts recommend which stocks to bet on for good returns:
Ashwani Gujral of ashwanigujral.com
Buy Bajaj Finserv with a stop loss of Rs 6900, target of Rs 7150
Buy ACC with a stop loss of Rs 1500, target of Rs 1585
Buy Radico Khaitan with a stop loss of Rs 430, target of Rs 456
Buy Asian Paints with a stop loss of Rs 1435, target of Rs 1480
Buy Adani Ports with a stop loss of Rs 395, target of Rs 412
Sudarshan Sukhani of s2analytics.com
Buy Bharat Forge with stop loss at Rs 630 and target of Rs 660
Buy Engineers India with stop loss at Rs 131 and target of Rs 142
Buy IndusInd Bank with stop loss at Rs 1970 and target of Rs 2045
Buy Manappuram Finance with stop loss at Rs 103.5 and target of Rs 112
Buy Nestle India with stop loss at Rs 10300 and target of Rs 10800
Sell NTPC with stop loss at Rs 158 and target of Rs 147
Mitessh Thakkar of mitesshthakkar.com
Buy Bharat Electronics with a stop loss of Rs 112.5 and target of Rs 124
Sell Dewan Housing Finance with a stop loss of Rs 612 and target of Rs 578
Buy Engineers India with a stop loss of Rs 131.4 and target of Rs 145
Buy Hindustan Zinc above Rs 283 with stop loss of Rs 277 and target of Rs 296
Buy Jai Corp with a stop loss of Rs 153 and target of Rs 180Disclaimer: 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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