Indian stocks suffered strong losses on October 4, extending the losing spree into the fifth consecutive session, even as the Reserve Bank of India slashed key lending rates by 25 basis points. Benchmark indices fell by about 3 percent for the week.
While the rate cut of 25 basis points was already factored in, the market was expecting clear measures to address the concerns over the slowdown in the economy. Experts said the market was expecting a bigger cut in rates along with concrete measures to boost growth.
The S&P BSE Sensex plunged 433 points to 37,673 while the Nifty50 closed 139 points lower at 11,174 on Friday.
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 target at Rs 700 and stop loss at Rs 670
Buy Escorts with target at Rs 650 and stop loss at Rs 580
Buy NIIT Technologies with target at Rs 1,455 and stop loss at Rs 1,345
Sell Jubilant Foodworks with target at Rs 1,250 and stop loss at Rs 1,335
Prakash Gaba of prakashgaba.com
Buy NIIT Technologies with target at Rs 1,425 and stop loss at Rs 1,360
Buy HCL Technologies with target at Rs 267 and stop loss at Rs 258
Sell Equitas Holdings with target at Rs 93 and stop loss at Rs 102
Sell MSFL with target at Rs 390 and stop loss at Rs 413
Mitessh Thakkar of mitesshthakkar.com
Sell Bank of Baroda with target at Rs 82 and stop loss at Rs 91
Sell Bank of India with target at Rs 56 and stop loss at Rs 62.8
Buy Kotak Mahindra Bank with target at Rs 1,590 and stop loss at Rs 1,534
Sell Titan Company with target at Rs 1,220 and stop loss at Rs 1,271Disclaimer: 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.