Sudarshan Sukhani of s2analytics.com suggests buying Reliance Industries with stop loss at Rs 1240 and target of Rs 1275, KPIT Tech with stop loss at Rs 306 and target of Rs 315 and Tata Consultancy Services with stop loss at Rs 2060 and target of Rs 2130.
The Nifty50 after opening gap down extended losses as the day progressed and broke the psychological 11,500-mark on Monday, tracking further weakness in Indian rupee which ended at new record closing low of 72.45 to the dollar. The renewed trade tensions between US and China also dented sentiment.
The index closed sharply lower, forming 'Bearish Belt Hold' pattern on the daily candlestick chart.
According to Pivot charts, the key support level is placed at 11,385.93, followed by 11,333.77. If the index starts moving upwards, key resistance levels to watch out are 11,531.63 and 11,625.17.
The Nifty Bank index closed at 27,201.75, down 279.70 points on Monday. The important Pivot level, which will act as crucial support for the index, is placed at 27,094.67, followed by 26,987.53. On the upside, key resistance levels are placed at 27,356.87, followed by 27,511.94.
In an interview to CNBC-TV18, top market experts recommend which stocks to bet on for good returns:
Ashwani Gujral of ashwanigujral.com
Sell Bharat Forge with a stop loss of Rs 672, target of Rs 650
Sell Interglobe Aviation with a stop loss of Rs 900, target of Rs 875
Sell Indiabulls Housing Finance with a stop loss of Rs 1172, target of Rs 1140
Buy KPIT Technologies with a stop loss of Rs 305, target of Rs 321
Buy Petronet LNG with a stop loss of Rs 250, target of Rs 264
Sudarshan Sukhani of s2analytics.com
Buy Reliance Industries with stop loss at Rs 1240 and target of Rs 1275
Buy KPIT Tech with stop loss at Rs 306 and target of Rs 315
Buy Tata Consultancy Services with stop loss at Rs 2060 and target of Rs 2130
Sell BEML with stop loss at Rs 785 and target of Rs 735
Sell Castrol India with stop loss at Rs 155 and target of Rs 149
Disclosure: Reliance Industries Ltd. is the sole beneficiary of Independent Media Trust which controls Network18 Media & Investments Ltd.
Mitessh Thakkar of mitesshthakkar.com
Sell HDFC with a stop loss of Rs 1911 and target of Rs 1830
Sell Just Dial with a stop loss of Rs 530 and target of Rs 490
Buy Lupin with a stop loss of Rs 929 and target of Rs 970
Buy Power Finance Corporation with a stop loss below Rs 87 for target of Rs 92
Sell Syndicate Bank with a stop loss of Rs 38 and target of Rs 34.5Disclaimer: 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.