Ashwani Gujral of ashwanigujral.com suggests buying Motherson Sumi Systems with a stop loss of Rs 168, target of Rs 180, Voltas with a stop loss of Rs 536, target of Rs 560 and Kotak Mahindra Bank with a stop loss of Rs 1120, target of Rs 1165.
November 2 was a strong day for the market as the Sensex rallied 580 points and Nifty 50 surpassed critical resistance of 10,450 levels and closed a tad above 10,550. Sharp recovery in the rupee, fall in crude oil prices and rising hope of trade negotiations between the world's largest economies US and China boosted investor sentiments.
After decisively surpassing near-term hurdle of 10,450 levels, the index could be heading towards the next critical resistance of 10,700 levels followed by consolidation, according to experts.
After opening above the 10,450 level, the Nifty 50 witnessed sustained buying throughout the session to extend its gains above 10,600 levels intraday. Finally the index closed 172.55 points higher at 10,553, forming a bullish candle on daily and weekly charts.
India VIX fell by 5.01 percent to 18.23 levels.
Falling VIX from last three sessions suggests some bullish price setup but VIX has to go down below 17-16 zones to confirm the short term reversal and a decent bounce back after the sharp cut of last two months.
According to Pivot charts, the key support level is placed at 10,471.47, followed by 10,389.93. If the index starts moving upwards, key resistance levels to watch out are 10,620.77 and then 10,688.53.
The Nifty Bank index closed at 25,701.65, up 378 points on Friday. The important Pivot level, which will act as crucial support for the index, is placed at 25,515.2, followed by 25,328.7. On the upside, key resistance levels are placed at 25,872.2, followed by 26,042.7.
In an interview to CNBC-TV18, top market experts recommend which stocks to bet on for good returns:
Ashwani Gujral of ashwanigujral.com
Sell Mindtree with a stop loss of Rs 810, target of Rs 785
Sell Hexaware Technologies with a stop loss of Rs 315, target of Rs 298
Buy Motherson Sumi Systems with a stop loss of Rs 168, target of Rs 180
Buy Voltas with a stop loss of Rs 536, target of Rs 560
Buy Kotak Mahindra Bank with a stop loss of Rs 1120, target of Rs 1165
Sudarshan Sukhani of s2analytics.com
Buy Ashok Leyland with stop loss at Rs 114 and target of Rs 122
Buy Godrej Industries with stop loss at Rs 470 and target of Rs 495
Buy JSW Steel with stop loss at Rs 344 and target of Rs 372
Buy Mahanagar Gas with stop loss at Rs 832 and target of Rs 863
Sell Tata Power Company with stop loss at Rs 77.5 and target of Rs 73
Prakash Gaba of prakashgaba.com
Buy HDFC Bank with target at Rs 1980 and stop loss at Rs 1920
Buy Max Financial Services with target at Rs 433 and stop loss at Rs 390
Buy Vedanta with target at Rs 235 and stop loss at Rs 220
Sell Bank of India with target at Rs 81 and stop loss at Rs 88Disclaimer: 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.