Mitessh Thakkar of mitesshthakkar.com recommends buying Apollo Hospitals with a stop loss of Rs 1,174, target at Rs 1,235 and CESC with a stop loss of Rs 412, target at Rs 450.
Benchmark indices have nosedived for the seventh consecutive week ended April 3 amid worries over increasing COVID-19 infected cases globally and rating downgrade on fear of NPA pressure in banking & financials sector due to lockdown. Subdued auto sales data for March and rally in oil prices also hit sentiment.
The BSE Sensex tanked 2,224.64 points or 7.46 percent to 27,590.95 and the Nifty50 fell 576.45 points or 6.66 percent to 8,083.80 for the week, taking total seven-week loss to 33 percent each.
The market breadth was in favour of bulls for last three straight sessions during the passing week, which experts feel indicated that supressed valuations in quality stocks attracted buying interest at lower levels hoping that the worst might have discounted by the market.
According to the pivot charts, the key support level for Nifty is placed at 7,974.22 followed by 7,864.63. If the index moves up, key resistance levels to watch out for are 8,274.97 and 8,466.13.
The important pivot level, which will act as crucial support for the index, is placed at 16,819.63, followed by 16,389.96. On the upside, key resistance levels are placed at 18,002.53 and 18,755.77.
In an interview to CNBC-TV18, top market experts recommend which stocks to bet on for good returns:
Ashwani Gujral of ashwanigujral.com
Buy Apollo Hospitals with a stop loss of Rs 1,160, target at Rs 1,250
Buy Sun Pharma with a stop loss of Rs 360, target at Rs 410
Buy Cipla with a stop loss of Rs 440, target at Rs 475
Sell IndusInd Bank with a stop loss of Rs 325, target at Rs 300
Sell ICICI Bank with a stop loss of Rs 300, target at Rs 278
Sudarshan Sukhani of s2analytics.com
Buy ACC with a stop loss of Rs 945, target at Rs 985
Buy Biocon with a stop loss of Rs 280, target at Rs 302
Buy Cipla with a stop loss of Rs 435, target at Rs 468
Buy TCS with a stop loss of Rs 1,600, target at Rs 1,720
Mitessh Thakkar of mitesshthakkar.com
Buy Apollo Hospitals with a stop loss of Rs 1,174, target at Rs 1,235
Buy CESC with a stop loss of Rs 412, target at Rs 450
Buy GAIL India with a stop loss of Rs 79, target at Rs 88
Buy HDFC with a stop loss of Rs 1,475, target at Rs 1,580Disclaimer: 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.