Mitessh Thakkar of mitesshthakkar.com iis of the view that one can sell CESC with a stop loss of Rs 991, target of Rs 950, HDFC with a stop loss of Rs 1840, target of Rs 1790 and buy Bata India with a stop loss of Rs 799, target of Rs 855.
The Nifty which started on a flat note failed to build on momentum due to weak global cues and slipped towards its crucial support placed around 10,800 on Monday. The index formed a ‘Bearish Belt Hold’ kind of pattern on daily charts.
In Monday’s price action, Nifty opened at 10,830.20 and was also the intraday high for the index which resulted in no upper shadow. The bears took control of D-Street in morning trade and pushed the index below its crucial support placed at 5-exponential moving average (EMA).
Investors are advised to tread with caution and if Nifty fails to reclaim 10,800 in Tuesday’s trading session, then there is a higher probability that it will slip towards its next crucial support, which is placed around 10,755.
According to Pivot charts, its key support is placed at 10,781.33, followed by 10,762.87. If the index starts moving upward, key resistance levels to watch out are 10,824.23 and 10,848.67.
The Nifty Bank index closed at 26,409.3. Important pivot level, which will act as a crucial support for the index, is placed at 26,328.64, followed by 26,247.97.
Key resistance levels are placed at 26,483.74, followed by 26,558.17.
In an interview to CNBC-TV18, top market experts recommend which stocks to pick for good short-term gains:
Mitessh Thakkar of mitesshthakkar.com
Sell CESC with a stop loss of Rs 991, the target of Rs 950
Sell HDFC with a stop loss of Rs 1840, target of Rs 1790
Buy Bata India with a stop loss of Rs 799, the target of Rs 855
Sell Shree Cements below Rs 15980 with a stop loss of Rs 16300, the target of Rs 15300
Buy Piramal Enterprises around Rs 2540 - 2525, stop loss of Rs 2480 and target of Rs 2660
Sudarshan Sukhani of s2analytics.com
Buy United Breweries with stop-loss at Rs 1270 and target of Rs 1315
Buy Piramal Enterprises with stop-loss at Rs 2500 and target of Rs 2650
Buy Mahindra & Mahindra with stop-loss at Rs 900 and target of Rs 930
Sell Cummins India with stop-loss at Rs 680 and target of Rs 650
Sell Tata Power with stop-loss at Rs 76 and target of Rs 73
Prakash Gaba of prakashgaba.com
Buy ICICI Bank with the target at Rs 299 and stop loss at Rs 289
Buy SAIL with the target of Rs 90 and stop loss at Rs 85
Sell Canara Bank with the target at Rs 260 and stop loss at Rs 277
Sell TCS with the target at Rs 1800 and stop loss at Rs 1840
Disclaimer:-The views and investment tips expressed by investment experts are their own. Ripples Advisory advises users to check with certified experts before taking any investment decisions.
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