Mitessh Thakkar of mitesshthakkar.com recommends buying Axis Bank with a stop loss of Rs 568 and target of Rs 588, Balkrishna Industries with a stop loss of Rs 1240 and target of Rs 1305 and Cummins India with a stop loss of Rs 680 and target of Rs 750.
The Nifty50 after opening sharply higher extended rally as the day progressed and recouped all losses seen in the previous session to end at fresh record closing high on Friday.
The index formed strong bullish candle on the daily candlestick charts. The renewed trade war tensions between world's largest economies US and China spooked the market on Thursday.
The Nifty50 after opening on a strong note at 11,297.80 rallied further to hit an intraday high of 11,368 and ended at record closing high of 11,360.80, up 116.10 points.
The sharp rebound after correction indicated the market may be heading for higher levels at around 11,450-11,500 levels but the may see some consolidation before moving towards these levels, experts said.
According to Pivot charts, the key support level is placed at 11,314.2, followed by 11,267.6. If the index starts moving upwards, key resistance levels to watch out are 11,387.7 and 11,414.6.
The Nifty Bank index closed at 27,695.50, up 339.55 points on Friday. The important Pivot level, which will act as crucial support for the index, is placed at 27,521.47, followed by 27,347.43. On the upside, key resistance levels are placed at 27,796.27, followed by 27,897.04.
In an interview to CNBC-TV18, top market experts recommend which stocks to bet on for good returns:
Ashwani Gujral of ashwanigujral.com
Buy L&T Finance Holdings with a stop loss of Rs 176, target of Rs 190
Buy NIIT Technologies with a stop loss of Rs 1280, target of Rs 1330
Buy Canara Bank with a stop loss of Rs 286, target of Rs 301
Buy ICICI Bank with a stop loss of Rs 300, target of Rs 315
Buy Axis Bank with a stop loss of Rs 570, target of Rs 625
Sudarshan Sukhani of s2analytics.com
Buy Aurobindo Pharma with a stop loss at Rs 615 and target of Rs 645
Buy Voltas with a stop loss at Rs 568 and target of Rs 590
Buy TCS with a stop loss at Rs 1950 and target of Rs 2025
Sell Jet Airways with a stop loss at Rs 313 and target of Rs 295
Sell Zee Entertainment Enterprises with a stop loss at Rs 525 and target of Rs 510
Mitessh Thakkar of mitesshthakkar.com
Buy Axis Bank with a stop loss of Rs 568 and target of Rs 588
Buy Balkrishna Industries with a stop loss of Rs 1240 and target of Rs 1305
Buy Cummins India with a stop loss of Rs 680 and target of Rs 750
Buy LIC Housing Finance with a stop loss of Rs 530 and target of Rs 560
Buy GSFC with a stop loss of Rs 112.7 and target of Rs 125Disclaimer: 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.