Mitessh Thakkar of mitesshthakkar.com is of the view that one can buy Dabur India with a stop loss of Rs 387.8 and target of Rs 405 and sell DLF with a stop loss of Rs 196.2 and target of Rs 182.
The 50-share NSE Nifty opened at 10,785.50 which was also the intraday high for the index which resulted in small lower shadow. The bears took control of D-Street in morning trade itself and pushed the index below its crucial support placed at 10,700 levels. It hit an intraday low of 10,652.40 and then bounced back to marginally close above its 50-day exponential moving average (EMA) placed around 10,670.
The index, which is now trading below most of its short-term moving averages such as 5, 13, 20-EMA and 50-DMA, closed down 97.80 points or 0.91 percent at 10,671.40.
Most experts feel if the selling pressure extends, then the Nifty may move towards 10,400 levels but if the index bounces back above its 50-DEMA then there could be some relief for bulls on the expiry day. India VIX moved up by 5.55 percent at 13.51 levels. Spurt in VIX indicates limited upside as of now.
According to Pivot charts, the key support level is placed at 10,620.7, followed by 10,570.0. If the index starts moving upwards, key resistance levels to watch out are 10,753.8 and 10,836.2.
The Nifty Bank index closed at 26,423.4 on Wednesday. The important Pivot level, which will act as crucial support for the index, is placed at 26,295.17, followed by 26,166.93. On the upside, key resistance levels are placed at 26,592.97, followed by 26,762.54.
In an interview to CNBC-TV18, top market experts recommend which stocks to bet on for good returns:
Ashwani Gujral of ashwanigujral.com
Sell Jet Airways with a stop loss of Rs 359, target of Rs 344
Sell Srei Infra with a stop loss of Rs 66, target of Rs 58
Sell REC with a stop loss of Rs 105, target of Rs 97
Sell Bank of India with a stop loss of Rs 90, target of Rs 84
Buy Aurobindo Pharma with a stop loss of Rs 612, target of Rs 630
Sudarshan Sukhani of s2analytics.com
Sell Apollo Tyres with stop loss at Rs 263 and target of Rs 248
Sell CESC with stop loss at Rs 935 and target of Rs 905
Buy Britannia Industries with stop loss at Rs 6040 and target of Rs 6190
Buy Mindtree with stop loss at Rs 950 and target of Rs 1010
Buy Piramal Enterprises with stop loss at Rs 2520 and target of Rs 2620
Mitessh Thakkar of mitesshthakkar.com
Buy Dabur India with a stop loss of Rs 387.8 and target of Rs 405
Sell DLF with a stop loss of Rs 196.2 and target of Rs 182
Sell Escorts around Rs 860 - 863 with stop loss of Rs 876 and target of Rs 830
Sell Reliance Power with a stop loss of Rs 33.3 and target of Rs 30
Buy Tech Mahindra above Rs 723 with stop loss of Rs 709 and target of Rs 750Disclaimer: 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.