Top buy and sell ideas by Ashwani Gujral, Sudarshan Sukhani, Mitesh Thakkar for short term

BSE Sensex rose 1,028 points to 29,468 while the Nifty50 closed 317 points higher at 8,598. Experts say consolidation will continue and if the index surpasses 8,660 on closing, then there could be a sharp upside in the coming days.

Positional traders are advised to retain optimistic outlook and should consider fresh long positions on a close above 8,660 for bigger targets.

According to the pivot charts, the key support level for Nifty is placed at 8411.07, followed by 8224.38. If the index continues moving up, key resistance levels to watch out for are 8731.37 and 8864.98.

Nifty Bank closed 1.93 percent up at 19,144. The important pivot level, which will act as crucial support for the index, is placed at 18802.17, followed by 18460.33. On the upside, key resistance levels are placed at 19476.07 and 19808.13.

In an interview to CNBC-TV18, top market experts recommend which stocks to bet on for good returns:

Ashwani Gujral of ashwanigujral.com

Buy Tata Steel with a stop loss of Rs 262, target at Rs 280

Buy Reliance Industries with a stop loss of Rs 1,090, target at Rs 1,150

Buy Pidilite Industries with a stop loss of Rs 1,340, target at Rs 1,385

Sell RBL Bank with a stop loss of Rs 140, target at Rs 124

Sell IndusInd Bank with a stop loss of Rs 360, target at Rs 325

Sudarshan Sukhani of s2analytics.com

Sell Apollo Tyres with a stop loss of Rs 82, target at Rs 75.5

Sell Bharat Forge with a stop loss of Rs 243, target at Rs 225

Buy Glenmark Pharma with a stop loss of Rs 199, target at Rs 215

Buy Marico with a stop loss of Rs 268, target at Rs 285

Mitessh Thakkar of mitesshthakkar.com

Sell Cholamandalam Investment with a stop loss of Rs 158, target of Rs 142

Sell Manappuram Finance with a stop loss of Rs 97.5, target of Rs 88

Buy GAIL India with a stop loss of Rs 74, target of Rs 81

Buy IOC with a stop loss of Rs 79.5, target of Rs 85

Disclosure: Reliance Industries Ltd. is the sole beneficiary of Independent Media Trust which controls Network18 Media & Investments Ltd.

Disclaimer: The views and investment tips expressed by investment experts 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.​