Nifty, which started off on a muted note on December 20, recouped most of its losses and bounced back from its five-day exponential moving average placed at 10,899 to form a bullish candle for the fifth consecutive day in a row.
The index also managed to hold on to its crucial support placed at 10,900-10,950 which is a positive sign for the bulls and is on the way to touch 11,000 in 2018 itself, if the momentum remains intact.
It formed a bullish candle on an intraday basis as the closing level was higher than the opening level. The index also formed a two-candlestick pattern, similar to 'Piercing Line' on the daily charts.
Stay tuned to Moneycontrol to find out what happens in currency and equity markets today. We have collated a list of important headlines from across news agencies.
In an interview to CNBC-TV18, top market experts recommend which stocks to bet on for good returns:
Ashwani Gujral of ashwanigujral.com
Buy CESC with a stoploss of 710, target Rs 735
Buy HPCL with a stoploss of Rs 239, target Rs 252
Buy L&T Finance Holdings with a stoploss of 154, target Rs 166
Buy Lupin with a stoploss of 848, target Rs 880
Buy DHFL with a stoploss of 234, target Rs 248
Technical Analyst, Prakash Gaba:
Buy Equitas Holdings with target of Rs 132 and stoploss at Rs 120
Buy Divis Lab with target of Rs 1550 and stoploss at Rs 1490
Buy ITC with target of Rs 288 and stoploss at Rs 280
Buy Jain Irrigation with target of Rs 73 and stoploss at Rs 66
Mitessh Thakkar of mitesshthakkar.com
Buy CESC with a stoploss below Rs 704, target Rs 750
Buy L&T with a stoploss below Rs 1429, target of Rs 1495
Buy Tata Motors with a stoploss of Rs 173 and target of Rs 185
Buy Bajaj Corp with a stoploss of Rs 366 and target of Rs 395
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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