Mitessh Thakkar of mitesshthakkar.com is of the view that one can sell Container Corporation of India with a stop loss of Rs 613 and target of Rs 573 and buy Aurobindo Pharma with a stop loss of Rs 722 and target of Rs 760.
The Nifty ended the volatile session in green with gains of 31 points on Monday making a ‘Hammer’ like pattern on the daily charts. The Nifty closed in green after shedding around 600 points in the last 4 sessions.
The Nifty bounced back from its crucial support placed at 10,200 levels. It reclaimed 10,300 levels on closing basis and now as long as it holds above this level, the bounce should take the Nifty towards 10,420, and 10,500 levels, suggest experts.
India VIX moved up by 2.12 percent at 20.15 levels but it slipped from its intraday swing high of 21.77 levels. Overall, higher volatility suggests a bear grip but a cool off in VIX with a topping out formation could form a short-term bottom in the market.
Technically, the crucial resistance is now placed at 10,500-11,000 levels and pullback towards the said level might face extensive selling pressure, suggest experts.
According to Pivot charts, the key support level is placed at 10,231.5, followed by 10,115.0. If the index starts moving upwards, key resistance levels to watch out are 10,431.4 and 10,514.8.
The Nifty Bank index closed at 24,618.3. The important Pivot level, which will act as crucial support for the index, is placed at 24,323.8, followed by 24,029.3.
On the upside, key resistance levels are placed at 24,829, followed by 25,039.7.
In an interview to CNBC-TV18, top market experts recommend which stocks to bet on for good returns:
Ashwani Gujral of ashwanigujral.com
Buy JSW Steel with a stop loss of Rs 372, target of Rs 390
Buy Titan Company with a stop loss of Rs 808, target of Rs 830
Buy Bajaj Auto with a stop loss of Rs 2550, target of Rs 2630
Sell Manappuram Finance with a stop loss of Rs 70, target of Rs 62
Sell BEML with a stop loss of Rs 581, target of Rs 560
Sudarshan Sukhani of s2analytics.com
Buy ACC with stop loss at Rs 1450 and target of Rs 1500
Buy Apollo Hospitals with stop loss at Rs 1060 and target of Rs 1105
Buy Hindustan Unilever with stop loss at Rs 1535 and target of Rs 1575
Buy Titan Company with stop loss at Rs 785 and target of Rs 840
Sell Hindalco Industries with stop loss at Rs 230 and target of Rs 212
Mitessh Thakkar of mitesshthakkar.com
Sell Container Corporation of India with a stop loss of Rs 613 and target of Rs 573
Buy Aurobindo Pharma with a stop loss of Rs 722 and target of Rs 760
Sell PAGE Industries with a stop loss of Rs 29600 and target of Rs 27800
Buy Sun Pharma around Rs 595 with stop loss of Rs 584 and target of Rs 620Disclaimer: 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.