Ashwani Gujral of ashwanigujral.com suggests buying NMDC with a stop loss of Rs 114, target of Rs 126, Hindalco Industries with a stop loss of Rs 236, target of Rs 251 and BPCL with a stop loss of Rs 362, target of Rs 378.
The Nifty 50 closed a rangebound session mildly lower on September 26 as traders turned cautious ahead of Federal Reserve's interest rate decision tonight and expiry of September futures & options contracts on Thursday. The index failed to extend previous day's gains.
After a gap-up opening, the Nifty slipped into the red and remained rangebound with a negative bias for rest of the session. The index closed marginally in the red, forming bearish candle on the daily charts.
The sectoral trend was mixed with Nifty FMCG (down 1.5 percent), IT (1.9 percent) and PSU Bank (1.9 percent) indices falling the most and the Nifty Midcap index outperforming benchmark indices, rising third of a percent.
The Nifty50 opened sharply higher at 11,145.55, which was also an intraday high, but slipped below 11,000 to hit the day's low of 10,993.05. It managed to recover some losses in late trade to close 13.70 points lower at 11,053.80.
According to Pivot charts, the key support level is placed at 10,982.7, followed by 10,911.6. If the index starts moving upwards, key resistance levels to watch out are 11,135.2 and 11,216.6.
The Nifty Bank index closed at 25,376.30, up 45.95 points on Wednesday. The important Pivot level, which will act as crucial support for the index, is placed at 25,207.37, followed by 25,038.44. On the upside, key resistance levels are placed at 25,535.17, followed by 25,694.03.
In an interview to CNBC-TV18, top market experts recommend which stocks to bet on for good returns:
Ashwani Gujral of ashwanigujral.com
Buy NMDC with a stop loss of Rs 114, target of Rs 126
Buy Hindalco Industries with a stop loss of Rs 236, target of Rs 251
Buy BPCL with a stop loss of Rs 362, target of Rs 378
Sell NIIT Tech with a stop loss of Rs 1180, target of Rs 1140
Sell Tata Elxsi with stop loss of Rs 1260 and target of Rs 1200
Sudarshan Sukhani of s2analytics.com
Sell Castrol India with stop loss at Rs 152 and target of Rs 146
Sell Cummins India with stop loss at Rs 700 and target of Rs 670
Sell LIC Housing Finance with stop loss at Rs 440 and target of Rs 410
Buy Cipla with stop loss at Rs 665 and target of Rs 685
Buy JSW Steel with stop loss at Rs 401 and target of Rs 422
Mitessh Thakkar of mitesshthakkar.com
Buy ACC with a stop loss of Rs 1565 and target of Rs 1620
Buy Cipla above Rs 679 with stop loss of Rs 669 and target of Rs 700
Sell Equitas Holdings with a stop loss of Rs 137.5 and target of Rs 125
Buy Reliance Industries with a stop loss of Rs 1235 and target of Rs 1282
Sell Mahindra & Mahindra in the range of Rs 898 - 901 with stop loss of Rs 920 and target of Rs 865
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