Mitessh Thakkar of mitesshthakkar.com recommends buying HDFC Bank with a stop loss of Rs 2040 and target of Rs 20, Reliance Capital with a stop loss of Rs 422 and target of Rs 440 and Reliance Industries with a stop loss of Rs 1009 and target of Rs 1065.
The Nifty, which opened at 10,734, rose to an intraday high of 10,781 on Wednesday. It slipped marginally to hit an intraday low of 10,724, before ending the day at 10,772, up 61 points.
The Bank Nifty erased the losses made over the last three sessions and closed above its immediate hurdle of 26,500. It formed a strong bullish candle after the weakness of the last four sessions, and now it has to hold above 26,500 to witness an up move towards 26,750, suggest experts.
According to Pivot charts, the key support level is placed at 10,736.73, followed by 10,701.47. If the index starts moving upwards, key resistance levels to watch out are 10,794.53 and 10,817.07.
The Nifty Bank index closed at 26,557.7 on Wednesday. The important Pivot level, which will act as crucial support for the index, is placed at 26,386.8, followed by 26,215.9. On the upside, key resistance levels are placed at 26,651.71, followed by 26,745.7.
In an interview to CNBC-TV18, top market experts recommend which stocks to bet on for good returns:
Sudarshan Sukhani of s2analytics.com
Buy Torrent Pharma with stop loss at Rs 1475 and target of Rs 1520
Buy NIIT Tech with stop loss at Rs 1110 and target of Rs 1180
Buy Kotak Mahindra Bank with stop loss at Rs 1310 and target of Rs 1355
Sell SRF with stop loss at Rs 1860 and target of Rs 1770
Sell Siemens with stop loss at Rs 1010 and target of Rs 975
Mitessh Thakkar of mitesshthakkar.com
Buy HDFC Bank with a stop loss of Rs 2040 and target of Rs 2080
Buy Reliance Capital with a stop loss of Rs 422 and target of Rs 440
Buy Reliance Industries with a stop loss of Rs 1009 and target of Rs 1065
Sell National Aluminium Company with a stop loss of Rs 69 and target of Rs 63
Sell Axis Bank with a stop loss of Rs 528 and target of Rs 502
Disclosure: Reliance Industries Ltd. is the sole beneficiary of Independent Media Trust which controls Network18 Media & Investments Ltd.
Prakash Gaba of prakashgaba.com
Buy Ceat with target at Rs 1365 and stop loss at Rs 1306
Buy Dewan Housing Finance with target at Rs 647 and stop loss at Rs 623
Buy HDFC Bank with target at Rs 2075 and stop loss at Rs 2045
Sell Cipla with target at Rs 588 and stop loss at Rs 612Disclaimer: 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.