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The Nifty opened above its previous closing levels at 10,668.60 but the correction in Asian peers forced it to hit an intraday low of 10,630.25. The follow through buying and recovery in Asian counterparts then helped it regain strength in the morning itself to hit an intraday high of 10,713.30 before it finally closed 42.60 points higher at 10,699.90.
India VIX fell down up by 2.77 percent at 13 levels. Lower volatility indicates limited downside and decline is being bought.
According to Pivot charts, the key support level is placed at 10,648.97, followed by 10,598.03. If the index starts moving upwards, key resistance levels to watch out are 10,732.07 and 10,764.23.
The Nifty Bank index closed at 26,204.1 on Tuesday. The important Pivot level, which will act as crucial support for the index, is placed at 26,125.37, followed by 26,046.63. On the upside, key resistance levels are placed at 26,299.47, followed by 26,394.83.
In an interview to CNBC-TV18, top market experts recommend which stocks to bet on for good returns:
Ashwani Gujral of ashwanigujral.com
Buy Sun Pharma with a stop loss of Rs 568, target of Rs 590
Buy RBL Bank with a stop loss of Rs 558, target of Rs 580
Buy Tata Global Beverage with a stop loss of Rs 276, target of Rs 291
Sell HPCL with a stop loss of Rs 263, target of Rs 248
Sell HDFC with a stop loss of Rs 1895, target of Rs 1850
Sudarshan Sukhani of s2analytics.com
Sell Raymond with stop loss at Rs 905 and target of Rs 860
Sell Vedanta with stop loss at Rs 235 and target of Rs 223
Buy TCS with stop loss at Rs 1830 and target of Rs 1980
Buy Kotak Mahindra Bank with stop loss at Rs 1340 and target of Rs 1385
Buy Jubilant Foodworks with stop loss at Rs 1410 and target of Rs 1470
Mitessh Thakkar of mitesshthakkar.com
Buy Aurobindo Pharma with a stop loss of Rs 615 and target of Rs 646
Buy KPIT Tech with a stop loss of Rs 274 and target of Rs 292
Buy RBL Bank with a stop loss of Rs 558 and target of Rs 585
Sell ICICI Bank around Rs 276 with stop loss of Rs 282 and target of Rs 263
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.
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