Mitessh Thakkar of mitesshthakkar.com recommends buying ACC with a stop loss of Rs 1572 and target of Rs 1640, Aurobindo Pharma with a stop loss below Rs 639 and target of Rs 690 and HUL with a stop loss of Rs 1660 and target of Rs 1840.
The Nifty, after opening sharply higher above the 11,400 mark, extended its rally to move near its intraday record high and finally ended at record closing high on Friday, driven by broad-based buying.
The index formed a bullish candle on daily candlestick charts and the weekly scale. It closed half a percent higher for the truncated week.
The broader markets also participated in the rally, with the Nifty Midcap index rising over a percent, and all sectoral indices ending in the green. Nifty Bank, and the FMCG, metal and pharma indices rose 1-2 percent.
The Nifty started off the session at 11,437.15 and rallied further during the day to touch an intraday high of 11,486.45. But it failed to reclaim its intraday record high of 11,495.20 seen on August 9. The index ended at record closing high of 11,470.75, up 85.70 points.
According to Pivot charts, the key support level is placed at 11,439.57, followed by 11,408.33. If the index starts moving upwards, key resistance levels to watch out are 11,494.27 and 11,517.73.
The Nifty Bank index closed at 28,128.55, up 302 points on Friday. The important Pivot level, which will act as crucial support for the index, is placed at 27,995.54, followed by 27,862.47. On the upside, key resistance levels are placed at 28,219.93, followed by 28,311.27.
In an interview to CNBC-TV18, top market experts recommend which stocks to bet on for good returns:
Ashwani Gujral of ashwanigujral.com
Buy ACC with a stop loss of Rs 1560, target of Rs 1680
Buy Hindustan Unilever with a stop loss of Rs 1770, target of Rs 1825
Buy State Bank of India with a stop loss of Rs 297, target of Rs 315
Buy Canara Bank with a stop loss of Rs 272, target of Rs 286
Buy Torrent Pharma with a stop loss of Rs 1750, target of Rs 1800
Sudarshan Sukhani of s2analytics.com
Buy UltraTech Cement with a stop loss at Rs 4240 and target of Rs 4390
Buy Tata Consultancy Services with a stop loss at Rs 1995 and target of Rs 2050
Buy Strides Pharma Science with a stop loss at Rs 430 and target of Rs 490
Buy Pidilite Industries with a stop loss at Rs 1110 and target of Rs 1155
Sell Muthoot Finance with a stop loss at Rs 410 and target of Rs 395
Mitessh Thakkar of mitesshthakkar.com
Buy ACC with a stop loss of Rs 1572 and target of Rs 1640
Buy Aurobindo Pharma with a stop loss below Rs 639 and target of Rs 690
Buy HUL with a stop loss of Rs 1660 and target of Rs 1840
Sell BPCL around Rs 380 with stop loss of Rs 388 and target of Rs 365Disclaimer: 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.