Mitessh Thakkar of miteshthacker.com suggests buying V-Guard Industries above Rs 218.5 with stop loss of Rs 212 and target of Rs 232, Bharat Forge above Rs 657 with stop loss of Rs 645 and target of Rs 680 and HDFC Bank with a stop loss of Rs 2080 and target of Rs 2120.
Indian market hit fresh records on August 28 supported by positive global cues. The Nifty50 hit a new high of 11,760, but witnessed profit booking at higher levels and closed near its opening level forming a ‘Doji’ type of candle on the daily candlestick charts.
Although the Nifty50 surpassed 11,750, it witnessed profit booking near 11,760 which pushed the index towards 11,700 levels. However, bulls managed to pull the index near its opening level of 11,731. The index finally closed 46 points higher at 11,738.
According to Pivot charts, the key support level is placed at 11,712, followed by 11,686. If the index starts moving upwards, key resistance levels to watch out are 11,762 and 11,786.
The Nifty Bank index closed at 28,269, up 5 points. The important Pivot level, which will act as crucial support for the index, is placed at 28,152, followed by 28034. On the upside, key resistance levels are placed at 28,388, followed by 28,506.
In an interview to CNBC-TV18, top market experts recommend which stocks to bet on for good returns:
Ashwani Gujral of ashwanigujral.com
Buy Bata India with a stop loss of Rs 1085, target of Rs 1140
Buy Axis Bank with a stop loss of Rs 654, target of Rs 680
Buy Adani Enterprises with a stop loss of Rs 225, target of Rs 238
Buy Dewan Housing Finance with a stop loss of Rs 660, target of Rs 685
Buy Balkrishna Industries with a stop loss of Rs 1395, target of Rs 1440
Sudarshan Sukhani of s2analytics.com
Buy Mahindra & Mahindra with a stop loss at Rs 974 and target of Rs 995
Buy Hindustan Zinc with a stop loss at Rs 295 and target of Rs 302
Buy Motherson Sumi Systems with a stop loss at Rs 303 and target of Rs 310
Sell BPCL with a stop loss at Rs 365 and target of Rs 351
Sell Coal India with a stop loss at Rs 298 and target of Rs 290
Mitessh Thakkar of miteshthacker.com
Buy V-Guard Industries above Rs 218.5 with stop loss of Rs 212 and target of Rs 232
Buy Bharat Forge above Rs 657 with stop loss of Rs 645 and target of Rs 680
Buy HDFC Bank with a stop loss of Rs 2080 and target of Rs 2120
Sell Tata Elxsi with a stop loss of Rs 1431 and target of Rs 1390Disclaimer: 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.