Sudarshan Sukhani of s2analytics.com suggests buying Aurobindo Pharma with a stop loss at Rs 780 and target of Rs 810, Mindtree with stop loss at Rs 1150 and target of Rs 1200 and RBL Bank with stop loss at Rs 590 and target of Rs 620.
After a gap-up opening, the Nifty 50 remained volatile in early trade on September 11. The index, however, wiped out all gains in later part of the session to breach the psychological 11,300-mark. Further weakness in the rupee and trade war tensions hit market sentiment.
The market corrected sharply for the second consecutive session, forming large bearish candle which resembles like 'Bearish Belt Hold' kind of pattern on the daily candlestick chart.
The Nifty50 after opening gap up at 11,476.85 managed to hit an intraday high of 11,479.40 amid volatility in morning, but suddenly in the last couple of hours of trade it started falling sharply to break 11,300-mark and hit day's low of 11,274. The index closed 150.60 points or 1.32 percent lower at 11,287.50.
According to Pivot charts, the key support level is placed at 11,214.53, followed by 11,141.57. If the index starts moving upwards, key resistance levels to watch out are 11,419.93 and 11,552.37.
The Nifty Bank index closed at 26,807.50, down 394.25 points on Tuesday. The important Pivot level, which will act as crucial support for the index, is placed at 26,613.67, followed by 26,419.83. On the upside, key resistance levels are placed at 27,159.87, followed by 27,512.23.
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 Electronics with a stop loss of Rs 92, target of Rs 80
Sell Mahindra & Mahindra Financial Services with a stop loss of Rs 445, target of Rs 430
Sell LIC Housing Finance with a stop loss of Rs 476, target of Rs 460
Buy Chambal Fertilisers with a stop loss of Rs 158, target of Rs 170
Buy PVR with a stop loss of Rs 1340, target of Rs 1375
Sudarshan Sukhani of s2analytics.com
Buy Aurobindo Pharma with a stop loss at Rs 780 and target of Rs 810
Buy Mindtree with stop loss at Rs 1150 and target of Rs 1200
Buy RBL Bank with stop loss at Rs 590 and target of Rs 620
Sell Dish TV with stop loss at Rs 68.5 and target of Rs 65.5
Sell Bharti Infratel with stop loss at Rs 273 and target of Rs 264
Mitessh Thakkar of mitesshthakkar.com
Buy Bajaj Auto with a stop loss of Rs 2808 and target of Rs 2900
Buy Jindal Stainless (Hisar) with a stop loss of Rs 135 and target of Rs 150
Sell CG Power with a stop loss of Rs 56 and target of Rs 50
Sell Indraprastha Gas with a stop loss of Rs 270 and target of Rs 252Disclaimer: 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.