Sudarshan Sukhani of s2analytics.com recommends buying Torrent Pharma with a stop loss at Rs 1675 and target of Rs 1735 and NIIT Tech with a stop loss at Rs 1125 and target of Rs 1325.
Bears continued to dominate Dalal Street for the second consecutive session on August 13 as the Nifty50 fell sharply, closing far below the psychological 11,400-mark following the Turkey crisis and further weakness in the rupee against the dollar.
The Nifty closed below the five-day EMA as well as nine-day EMA, which offered major support to Nifty in earlier corrections. The index formed a small bearish candle on the daily charts.
The Nifty50 after opening sharply lower and breaking 11,400 levels extended losses as the day progressed and hit an intraday low of 11,340.30. It did manage to claw back above 11,400 in afternoon trade, but failed to hold the same level and closed 73.70 points lower at 11,355.80.
India VIX moved up by 4.08 percent at 13.37 levels. Spurt in VIX suggests that upside is going to be capped on immediate basis.
According to Pivot charts, the key support level is placed at 11,328.63, followed by 11,301.47. If the index starts moving upwards, key resistance levels to watch out are 11,394.63 and 11,433.47.
The Nifty Bank index closed at 27,794.40, down 329.85 points on Monday. The important Pivot level, which will act as crucial support for the index, is placed at 27,718.67, followed by 27,642.93. On the upside, key resistance levels are placed at 27,890.97, followed by 27,987.54.
In an interview to CNBC-TV18, top market experts recommend which stocks to bet on for good returns:
Ashwani Gujral of ashwanigujral.com
Sell TVS Motor Company with a stop loss of Rs 525, target of Rs 500
Sell Yes Bank with a stop loss of Rs 375, target of Rs 350
Sell Engineers India with a stop loss of Rs 126, target of Rs 114
Buy Britannia Industries with a stop loss of Rs 6400, target of Rs 6550
Buy Tech Mahindra with a stop loss of Rs 654, target of Rs 680
Sudarshan Sukhani of s2analytics.com
Buy Torrent Pharma with a stop loss at Rs 1675 and target of Rs 1735
Buy NIIT Tech with a stop loss at Rs 1125 and target of Rs 1325
Sell IRB Infra with a stop loss at Rs 192 and target of Rs 185
Sell Bharat Forge with a stop loss at Rs 620 and target of Rs 590
Sell TVS Motor with a stop loss at Rs 525 and target of Rs 510
Mitessh Thakkar of mitesshthakkar.com
Sell Dish TV with a stop loss of Rs 67.5 and target of Rs 62
Buy HCL Tech with a stop loss of Rs 964 and target of Rs 1015
Buy Mahindra & Mahindra with a stop loss of Rs 938 and target of Rs 985
Sell Torrent Power with a stop loss of Rs 229 and target of Rs 212
Sell Zee Entertainment around Rs 508 - 509 with stop loss of Rs 519.5 and target of Rs 485Disclaimer: 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.