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Bulls staged a smart comeback on Monday after sharp sell-off last week. The Nifty50 after gap up opening extended rally as the day progressed and closed above 10,250 levels, driven by short covering in banking & financials after ICICI Bank's Q2 earnings.
All sectoral indices closed in the green with Pharma rising the most (up 5.2 percent) followed by Bank, Financial Service, IT, Metal and Realty which gained 2-3 percent.
If the market is able to sustain above 10,000 levels then it may head towards 10,400 levels in coming sessions, but one should be cautiously optimistic and keep a strict stoploss below 10,020 levels, experts suggest.
The Nifty50 after opening higher at 10,078.10 extended rally as the day progressed and touched an intraday high of 10,275.30 in late trade. The index almost recovered all its previous week's losses and closed 220.90 points higher at 10,250.90, forming large bullish candle on the daily charts.
India VIX moved up by 2.48 percent to 19.71 levels. Volatility is not cooling down further and that is the only concern for the market, experts said.
In an interview to CNBC-TV18, top market experts recommend which stocks to bet on for good returns:
Ashwani Gujral of ashwanigujral.com
Buy Oriental Bank of Commerce with a stop loss of Rs 70, target of Rs 81
Buy Power Finance Corporation with a stop loss of Rs 87, target of Rs 100
Buy Aurobindo Pharma with a stop loss of Rs 765, target of Rs 790
Buy Bank of Baroda with a stop loss of Rs 104, target of Rs 112
Buy Havells India with a stop loss of Rs 614, target of Rs 640
Sudarshan Sukhani of s2analytics.com
Buy NIIT Technologies with stop loss at Rs 1210 and target of Rs 1300
Buy United Spirits with stop loss at Rs 525 and target of Rs 555
Buy Havells India with stop loss at Rs 610 and target of Rs 640
Sell Dalmia Bharat with stop loss at Rs 2120 and target of Rs 1940
Sell Bharti Airtel with stop loss at Rs 300 and target of Rs 275
Mitessh Thakkar of mitesshthakkar.com
Buy Ajanta Pharma with a stop loss of Rs 999 and target of Rs 1050.
Buy Coal India with a stop loss of Rs 282 and target of Rs 296
Buy Nalco with a stop loss of Rs 67.5 for target of Rs 73
Buy Power Finance Corporation around Rs 90 with stop loss of Rs 87.8 for target of Rs 96
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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