Moneycontrol News
The Nifty 50, after a sharp gap-up opening, witnessed sustained buying interest throughout the trading session to extend its gains above the psychological 11,500-mark on September 14 ahead of the Prime Minister's meeting with top government officials to review the current economic scenario.
The index held on to its crucial support placed at 11,380 levels and closed sharply higher, forming a bullish candle on the daily candlestick charts and 'Hammer' pattern on the weekly charts.
It closed 145.30 points or 1.28 percent higher at 11,515.20, but on weekly basis, it lost 0.6 percent on top of a 0.8 percent loss in the previous week.
India VIX fell by 3.24 percent to 13.78. Decline in VIX could provide some stability in the market, experts said.
According to Pivot charts, the key support level is placed at 11,456.07, followed by 11,396.93. If the index starts moving upwards, key resistance levels to watch out are 11,548.77 and 11,582.33.
The Nifty Bank index closed at 27,163.85, up 344.65 points on Friday. The important Pivot level, which will act as crucial support for the index, is placed at 27,033.8, followed by 26,903.8. On the upside, key resistance levels are placed at 27,249.8, followed by 27,335.8.
In an interview to CNBC-TV18, top market experts recommend which stocks to bet on for good returns:
Ashwani Gujral of ashwanigujral.com
Buy Aurobindo Pharma with a stop loss of Rs 794, target of Rs 820
Buy Balrampur Chini with a stop loss of Rs 88, target of Rs 96
Sell Balkrishna Industries with a stop loss of Rs 1170, target of Rs 1145
Sell Jubilant Foodworks with a stop loss of Rs 1345, target of Rs 1300
Sell Cholamandalam Investment with a stop loss of Rs 1335, target of Rs 1300
Sudarshan Sukhani of s2analytics.com
Buy Aurobindo Pharma with a stop loss at Rs 780 and target of Rs 840
Buy Dabur India with stop loss at Rs 460 and target of Rs 485
Buy Hexaware Technologies with stop loss at Rs 461 and target of Rs 483
Sell Motherson Sumi Systems with stop loss at Rs 293 and target of Rs 280
Sell Zee Entertainment with stop loss at Rs 478 and target of Rs 458
Mitessh Thakkar of mitesshthakkar.com
Buy Biocon with a stop loss of Rs 649 and target of Rs 690
Sell Coal India with a stop loss of Rs 280.5 and target of Rs 267
Buy Divis Labs with a stop loss of Rs 1309 and target of Rs 1375
Buy Eicher Motors with a stop loss of Rs 29040 and target of Rs 30200
Sell Motherson Sumi Systems with a stop loss of Rs 295 and target of Rs 275
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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