Last Updated : Oct 04, 2018 11:45 AM IST | Source:

Top buy & sell ideas by Ashwani Gujral, Sudarshan Sukhani, Mitessh Thakkar for short term

Sudarshan Sukhani of suggests buying Divis Labs with stop loss at Rs 1290 and target of Rs 1350 and JSW Steel with stop loss at Rs 375 and target of Rs 392.

Moneycontrol News @moneycontrolcom

The market fell sharply on Wednesday as traders turned cautious ahead of Monetary Policy Committee's rate decision due on Friday after rupee hitting record lows and crude touching multi-year highs.

The Nifty50 after gap down opening extended losses as the day progressed and broke the 10,900 levels in last hour of trade. The index closed 150 points lower at 10,858.30 and formed strong bearish candle on the daily charts. If it doesn't stabilise around its 200-day EMA of 10,785 levels then more selling pressure is likely, experts said.

India VIX moved up by 8.16 percent at 18.21 levels. Volatility is not cooling down which is not giving the relief and suggests a tight bear grip in the market.

According to Pivot charts, the key support level is placed at 10,805, followed by 10,751.8. If the index starts moving upwards, key resistance levels to watch out are 10,950.2 and 11,042.2.

The Nifty Bank index closed at 25,069.90, down 297.10 points on Wednesday. The important Pivot level, which will act as crucial support for the index, is placed at 24,907.43, followed by 24,744.97. On the upside, key resistance levels are placed at 25,351.23, followed by 25,632.56.

In an interview to CNBC-TV18, top market experts recommend which stocks to bet on for good returns:

Ashwani Gujral of

Sell United Spirits with a stop loss of Rs 507, target of Rs 490

Sell Century Textiles & Industries with a stop loss of Rs 811, target of Rs 785

Sell Arvind with a stop loss of Rs 321, target of Rs 305

Sell Jubilant Foodworks with stop loss of Rs 1205, target of Rs 1165

Buy Hindalco Industries with a stop loss of Rs 249, target of Rs 263

Sudarshan Sukhani of

Buy Divis Labs with stop loss at Rs 1290 and target of Rs 1350

Buy JSW Steel with stop loss at Rs 375 and target of Rs 392

Sell Century Textiles with stop loss at Rs 825 and target of Rs 775

Sell ICICI Prudential Life Insurance with stop loss at Rs 337 and target of Rs 317

Sell L&T Finance Holdings with stop loss at Rs 130 and target of Rs 123

Mitessh Thakkar of

Sell ACC with a stop loss of Rs 1526 and target of Rs 1475

Sell Reliance Industries with a stop loss of Rs 1212.5 and target of Rs 1189

Sell Ambuja Cements with a stop loss of Rs 218.5 and target of Rs 203

Sell Century Textiles with a stop loss of Rs 820 and target of Rs 775

Disclosure: Reliance Industries Ltd. is the sole beneficiary of Independent Media Trust which controls Network18 Media & Investments Ltd.

Disclaimer: The views and investment tips expressed by investment experts on are their own, and not that of the website or its management. advises users to check with certified experts before taking any investment decisions.
First Published on Oct 4, 2018 08:46 am
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