Moneycontrol News
After opening higher Tuesday, the Nifty 50 ended flat but not before hitting a fresh intraday record high. It also made a fresh closing high.
The index formed a bearish candle on the daily charts as the closing price is lower than the opening price.
The Sensex, however, ended 26.09 points lower at 37,665.80 and even the broader markets closed in the red with the Nifty Midcap index falling 0.3 percent. The sectoral trend was mixed.
The Nifty50 after opening above 10,400 levels hit a fresh record high of 11,428.95 on intraday basis but erased gains in late morning deals to touch a day's low of 11,359.70. Overall the index remained range bound for major part of the session and managed to close in the green with 2.40-point gain at 11,389.50.
According to Pivot charts, the key support level is placed at 11,356.47, followed by 11,323.43. If the index starts moving upwards, key resistance levels to watch out are 11,425.77 and 11,462.03.
The Nifty Bank index closed at 27,875.90, down 22.60 points on Tuesday. The important Pivot level, which will act as crucial support for the index, is placed at 27,806.07, followed by 27,736.23. On the upside, key resistance levels are placed at 27,966.96, followed by 28,058.03.
In an interview to CNBC-TV18, top market experts recommend which stocks to bet on for good returns:
Ashwani Gujral of ashwanigujral.com
Buy Piramal Enterprises with a stop loss of Rs 2890, target of Rs 2960
Buy Dabur India with a stop loss of Rs 438, target of Rs 454
Buy Bajaj Finance with a stop loss of Rs 2730, target of Rs 2810
Buy Titan Company with a stop loss of Rs 920, target of Rs 955
Buy HDFC Bank with a stop loss of Rs 2100, target of Rs 2175
Sudarshan Sukhani of s2analytics.com
Buy Vedanta with a stop loss at Rs 222 and target of Rs 234
Buy Siemens with a stop loss at Rs 1020 and target of Rs 1065
Buy Exide Industries with a stop loss at Rs 280 and target of Rs 295
Sell Raymond with a stop loss at Rs 810 and target of Rs 765
Sell Bharti Infratel with a stop loss at Rs 290 and target of Rs 275
Mitessh Thakkar of mitesshthakkar.com
Buy Bajaj Finance above Rs 2765 with stop loss of Rs 2744 and target of Rs 2840
Buy Cummins India with a stop loss of Rs 674 and target of Rs 705
Buy India Cements with a stop loss of Rs 118.8 and target of Rs 129
Sell Tata Chemicals with a stop loss of Rs 682 and target of Rs 642
Buy Tata Steel with a stop loss of Rs 562 and target of Rs 599
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.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
