Mitessh Thakkar of mitesshthakkar.com is of the view that one can sell ICICI Prudential with a stop loss of Rs 375.25 and target of Rs 355 and Indian Oil Corporation with a stop loss of Rs 155 and target of Rs 145 and can buy ITC around Rs 308 with stop loss of Rs 303.8 for target of Rs 317.
The Nifty50 extended losses for the second consecutive session on Tuesday, falling briefly below 11,500 levels intraday after the rupee hit record low of 71.57 to the dollar and rising crude oil prices. The index closed sharply lower, forming bearish candle on the daily charts.
All sectoral indices closed in the red with Bank, Auto, FMCG, Metal and Pharma correcting upto 2 percent while IT was the only gainer, rising 2 percent on rupee weakness.
The midcaps and smallcaps hit hard as the Nifty Midcap and Smallcap indices fell more than 2.5 percent.
The Nifty50 remained volatile from the beginning of trade, opening at 11,598.75 and closing at 11,520.30. The index after opening higher fell immediately and bounced back to hit an intraday high of 11,602.55, but erased those gains to trade lower. It managed to rebound in afternoon but failed to hold those gains and hit an intraday low of 11,496.85 before closing 62.10 points down at 11,520.30.
India VIX moved up by 2.87 percent to 13.78 and a sudden jump in volatility in last two sessions is a cause of concern for immediate basis.
In an interview to CNBC-TV18, top market experts recommend which stocks to bet on for good returns:
Ashwani Gujral of ashwanigujral.com
Sell BEML with a stop loss of Rs 802, target of Rs 775
Sell BPCL with a stop loss of Rs 356, target of Rs 338
Sell CG Power with a stop loss of Rs 57 and target of Rs 52
Buy TCS with a stop loss of Rs 2080, target of Rs 2160
Buy Tech Mahindra with a stop loss of Rs 758, target of Rs 775
Sudarshan Sukhani of s2analytics.com
Sell Tata Motors with a stop loss at Rs 265 and target of Rs 250
Sell ICICI Prudential Life Insurance with a stop loss at Rs 375 and target of Rs 360
Sell Jet Airways with a stop loss at Rs 275 and target of Rs 260
Buy Sun Pharma with a stop loss at Rs 645 and target of Rs 675
Buy Hindustan Unilever with a stop loss at Rs 1620 and target of Rs 1700
Mitessh Thakkar of mitesshthakkar.com
Sell ICICI Prudential with a stop loss of Rs 375.25 and target of Rs 355
Sell Indian Oil Corporation with a stop loss of Rs 155 and target of Rs 145
Buy ITC around Rs 308 with stop loss of Rs 303.8 for target of Rs 317
Sell Just Dial with a stop loss of Rs 541 for target of Rs 514
Buy Reliance Infra with a stop loss of Rs 443 and target of Rs 470Disclaimer: 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.