The Nifty yesterday closed below its crucial short-term moving averages but after forming bearish candles in the last 4 trading sessions, the bears seem to be losing momentum and a bounce-back looks possible, suggest experts.
According to Pivot charts, the key support level is placed at 10,349.77, followed by 10,316.83. If the index starts to move higher, key resistance levels to watch out are 10,406.57 and 10,430.43.
The Nifty futures on the Singaporean stock exchange were trading higher by around 17.5 points at 10,403, a rise of around 0.5 percent. This indicates that the domestic market is likely to open on a positive note.
Moneycontrol.com has collated a list of trading ideas from top market experts which one can take cues for better returns:
Ashwani Gujral of ashwanigujral.com
Buy Firstsource Solutions with a stop loss of Rs 48, target of Rs 56
Buy Escorts with a stop loss of Rs 865, target of Rs 890
Buy Britannia Industries with a stop loss of Rs 4800, target of Rs 5050
Buy Kotak Mahindra Bank with a stop loss of Rs 1050, target of Rs 1120
Buy Biocon with a stop loss of Rs 610, target of Rs 645
Buy Hexaware Tech with a stop loss of Rs 348, target of Rs 362
Buy Maruti Suzuki with a stop loss of Rs 8650, target of Rs 8900
Buy Tata Steel with a stop loss of Rs 645, target of Rs 670
Mitessh Thakkar of miteshthacker.com
Buy Britannia Industries with stop loss of Rs 4785 for target of Rs 5000
Buy Infosys with a stop loss of Rs 1144 for target of Rs 1190
Sell Cummins india with a stop loss of Rs 831 for target of Rs 788
Sell Tata Motors around Rs 361-362 with stop loss of Rs 371 and target of Rs 340
Buy Ipca Labs with a stop loss of Rs 634 and target of Rs 730
Buy Avenue Supermarts with a stop loss of Rs 1244 for target of Rs 1325
Buy Venky's with a stop loss of Rs 2990 for target of Rs 3250
Prakash Gaba of prakashgaba.com
Buy Adani Enterprises with target at Rs 210 and stop loss at Rs 200
Buy Motilal Oswal with target at Rs 1250 and stop loss at Rs 1174
Sell Jain Irrigation with target at Rs 108 and stop loss at Rs 115
Sell PC Jeweller with target at Rs 300 and stop loss at Rs 350
Sandeep Wagle of powermywealth.com
Buy Cholamandalam Investment with a stop loss at Rs 1399 for target of Rs 1487
Sell Siemens with a stop loss at Rs 1185 for target at Rs 1134Disclaimer
: The views and investment tips expressed by investment experts on moneycontrol.com 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.