Buy or sell: Top stock trading ideas by market experts which are good short term bets

The market fell sharply on Wednesday as traders turned cautious ahead of Monetary Policy Committee's rate decision due on Friday after rupee hitting record lows and crude touching multi-year highs.

The Nifty50 after gap down opening extended losses as the day progressed and broke the 10,900 levels in last hour of trade. The index closed 150 points lower at 10,858.30 and formed strong bearish candle on the daily charts. If it doesn't stabilise around its 200-day EMA of 10,785 levels then more selling pressure is likely, experts said.

India VIX moved up by 8.16 percent at 18.21 levels. Volatility is not cooling down which is not giving the relief and suggests a tight bear grip in the market.

According to Pivot charts, the key support level is placed at 10,805, followed by 10,751.8. If the index starts moving upwards, key resistance levels to watch out are 10,950.2 and 11,042.2.

The Nifty Bank index closed at 25,069.90, down 297.10 points on Wednesday. The important Pivot level, which will act as crucial support for the index, is placed at 24,907.43, followed by 24,744.97. On the upside, key resistance levels are placed at 25,351.23, followed by 25,632.56.

Here are the top stock trading ideas which can give good returns in the near term:

Rupak De of Bonanza Portfolio

Buy Motherson Sumi Systems with target at Rs 267 and stop loss at Rs 233

Buy Adani Ports with target at Rs 357 and stop loss at Rs 316

Sell Bata India with target at Rs 845 and stop loss at Rs 957

Rajesh Agarwal of AUM Capital

Buy National Aluminium Company with stop loss at Rs 65 and target of Rs 75

Buy Vedanta with stop loss at Rs 232 and target of Rs 250

Buy Chennai Petroleum Corporation with stop loss at Rs 282 and target of Rs 300

Buy Indiabulls Real Estate with stop loss at Rs 85 and target of Rs 99

Sell Bata India with stop loss at Rs 940 and target of Rs 885