Moneycontrol News
The Nifty rallied 83 points after falling over 100 points in the previous trading session. Bulls pushed the index above crucial 50-DMA and 100-DEMA. Investors who went long in the index tracking the momentum, should ideally keep a stop below 10,410 levels.
The index saw some value buying at lower levels along with short covering which helped Nifty to reclaim 10,500 on closing basis which is a positive sign.
The Nifty50 which opened at 10,464 slipped to an intraday low of 10,419 before bouncing back above 10,500. It hit an intraday high of 10,535 before closing the day at 10,513, up 83 points.
According to Pivot charts, the key support level is placed at 10,444.0, followed by 10,374.2. If the index starts moving upwards, key resistance levels to watch out are 10,559.4 and 10,605.
The Nifty Bank index closed up 1.29 percent at 26,016.80 on Thursday. The important Pivot level, which will act as crucial support for the index, is placed at 25,759.1, followed by 25,501.4. On the upside, key resistance levels are placed at 26,173.8, followed by 26,330.8.
In an interview to CNBC-TV18, Ashwani Gujral of ashwanigujral.com and Mitessh Thakkar of miteshthacker.com suggests which stocks to buy or sell that can give good value for money:
Ashwani Gujral of ashwanigujral.com
Buy Kotak Mahindra Bank with a stop loss of Rs 1260 and target of Rs 1310
Buy Jubilant Foodworks with a stop loss of Rs 2600 and target of Rs 2750
Buy Tata Consultancy Services with a stop loss of Rs 3550 and target of Rs 3700
Sell TVS Motor Company with a stop loss of Rs 546 and target of Rs 530
Sell India Cements with a stop loss of Rs 128 and target of Rs 116
Mitessh Thakkar of miteshthacker.com
Buy KPIT Technologies with a stop loss of Rs 260 and target of Rs 290
Buy Power Finance Corporation with a stop loss of Rs 74 and target of Rs 79
Sell RBL Bank with a stop loss of Rs 505 and target of Rs 477
Buy Dish TV with a stop loss of Rs 72.5 and target of Rs 78
Sell Dalmia Bharat with a stop loss of Rs 2630 and target of Rs 2440
Disclaimer: The views and investment tips expressed by investment experts on CNBC-TV18/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.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
