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The Nifty50 opened with a gap up at 10,808.45 and hit an intraday high of 10,809.60 but it could sustain those levels for long and immediately turned volatile on Thursday. After the tussle between bulls-bears, the index finally drifted lower in the last couple of hours of trade and fell below 10,750 levels. It closed down 30.90 points at 10,741.10.
According to Pivot charts, the key support level is placed at 10,708.13, followed by 10,675.17. If the index starts moving upwards, key resistance levels to watch out are 10,791.83 and 10,842.57.
The Nifty Bank index closed at 26,496.9 on Thursday. The important Pivot level, which will act as crucial support for the index, is placed at 26,406.9, followed by 26,316.9. On the upside, key resistance levels are placed at 26,634.9, followed by 26,772.9.
In an interview to CNBC-TV18, top market experts recommend which stocks to bet on for good returns:
Sudarshan Sukhani of s2analytics.com
Buy Tata Elxsi with a stoploss of Rs 1,310 and target of Rs 1,350
Buy Hindustan Petroleum Corporation with a stoploss at Rs 312 and target price of Rs 327
Buy ICICI Bank with a stoploss at Rs 294 and target price of Rs 306
Sell BEML with a stoploss at Rs 870 and target price of Rs 825
Sell NBCC with a stoploss at Rs 84 and target price of Rs 80
Mitessh Thakkar of Mitesshthakkar.com
Sell L&T Finance Holdings with a stoploss of Rs 164.25 and target price of Rs 154
Buy ICICI Bank with a stoploss of Rs 292.9 and target price of Rs 310
Sell Kajaria Ceramics with a stoploss at Rs 518 and target price at Rs 485
Buy Reliance Industries with a stoploss at Rs 1,013 and target price of Rs 1,065
Sell Axis Bank with a stoploss at Rs 520.5 and target price of Rs 500
Disclosure: Reliance Industries Ltd. is the sole beneficiary of Independent Media Trust which controls Network18 Media & Investments Ltd.
Prakash Gaba of prakashgaba.com
Sell Bajaj Auto with a target price of Rs 2,790 and stoploss at Rs 2,855
Sell Pidilite Industries with a target price at Rs 1,000 and stoploss at Rs 1,051
Sell Tech Mahindra with a target price at Rs 672 and stoploss at Rs 691
Sell Wockhardt with a target price at Rs 660 and stoploss at Rs 690
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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