Mitessh Thakkar of mitesshthakkar.com is of the view that one can buy ACC with a stop loss of Rs 1299 and target of Rs 1345 and sell Escorts below Rs 873 with stop loss of Rs 900 and target of Rs 830 and also sell Bank of India with a stop loss of Rs 94.2 and target of Rs 88.
The Nifty also broke below two key short-term moving averages namely 5-days exponential moving average (EMA) placed at 10,775 and 13-EMA at 10,764.
The Nifty which opened flat rose marginally to hit an intraday high of 10,831. It failed to hold on to momentum and hit an intraday low of 10,753 before closing at 10,762, down 59 points.
Bank Nifty formed an Inside Bar pattern as it moved inside the range of the last session. The index has to now hold above 26,500 zones to witness an up move towards 26,750 and then towards 27,000 zones while a hold below 26,450 could see a dip towards 26,250 zones suggest experts.
India VIX moved up by 4.68 percent at 12.58 levels. On the options front, maximum Put OI is placed at 10,700 followed by 10,600 strikes while maximum Call OI is placed at 11,000 followed by 10,800 and 10,900 strikes.
According to Pivot charts, the key support level is placed at 10,733.33, followed by 10,704.17. If the index starts moving upwards, key resistance levels to watch out are 10,811.33 and 10,860.17.
The Nifty Bank index closed at 26,609.7 on Monday. The important Pivot level, which will act as crucial support for the index, is placed at 26,520.16, followed by 26,430.63. On the upside, key resistance levels are placed at 26,752.06, followed by 26,894.43.
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 Consultancy Services with stop loss at Rs 1800 and target of Rs 1860
Buy Lupin with stop loss at Rs 900 and target of Rs 940
Sell Torrent Power with stop loss at Rs 236 and target of Rs 221
Sell Tata Chemicals with stop loss at Rs 723 and target of Rs 700
Sell Ceat with stop loss at Rs 1325 and target of Rs 1260
Mitessh Thakkar of mitesshthakkar.com
Buy ACC with a stop loss of Rs 1299 and target of Rs 1345
Sell Escorts below Rs 873 with stop loss of Rs 900 and target of Rs 830
Sell Bank of India with a stop loss of Rs 94.2 and target of Rs 88
Sell L&T Finance Holdings with a stop loss of Rs 160 and target of Rs 150
Buy Bata India around Rs 820 - 815 with stop loss of Rs 800 and target of Rs 855
Prakash Gaba of prakashgaba.com
Buy Tata Elxsi with target at Rs 1360 and stop loss at Rs 1330
Sell Just Dial with target at Rs 520 and stop loss at Rs 560
Sell Mindtree with target at Rs 915 and stop loss at Rs 980
Sell Tata Motors with target at Rs 275 and stop loss at Rs 295Disclaimer: 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.