Mitessh Thakkar of mitesshthakkar.com recommends buying CESC with a stop loss below Rs 747 for target of Rs 786, Shree Cements with a stop loss of Rs 20350 and target of Rs 21200 and Titan Company with a stop loss of Rs 1258 and target of Rs 1295.
The market saw its biggest one-day fall in 2019 on June 6 as bears smashed the bulls right from the onset as the RBI did not make any announcement to tackle liquidity stress facing by NBFCs.
The market was also worried about banks' loan exposure to DHFL which defaulted on debt repayment on June 4.
After a 25 bps rate cut by the central bank and change in policy stance to accommodative from neutral, traders might have chosen to book profits as the market had seen a one-way rally after election results, experts said, adding 11,600 would be crucial level to watch out for in coming days.
The BSE Sensex plummeted 553.82 points to close at 39,529.72 while the Nifty50 fell 177.90 points to 11,843.80 and formed 'Bearish Belt Hold' pattern on daily charts.
According to the Pivot charts, the key support level is placed at 11,769.4, followed by 11,695. If the index starts moving upward, key resistance levels to watch out are 11,979 and 12,114.2.
The Nifty Bank index closed at 30,857.40, down 731.65 points on June 6. The important Pivot level, which will act as crucial support for the index, is placed at 30,591.64, followed by 30,325.87. On the upside, key resistance levels are placed at 31,332.34, followed by 31,807.27.
In an interview to CNBC-TV18, top market experts recommend which stocks to bet on for good returns:
Ashwani Gujral of ashwanigujral.com
Sell YES Bank with a stop loss of Rs 147, target of Rs 135
Sell Union Bank of India with a stop loss of Rs 75, target of Rs 68
Sell Reliance Capital with a stop loss of Rs 114, target of Rs 106
Buy Interglobe Aviation with a stop loss of Rs 1655, target of Rs 1700
Buy Titan Company with a stop loss of Rs 1255, target of Rs 1300
Mitessh Thakkar of mitesshthakkar.com
Buy CESC with a stop loss below Rs 747 for target of Rs 786
Sell Karnataka Bank with a stop loss of Rs 110 for target of Rs 102
Buy Shree Cements with a stop loss of Rs 20350 and target of Rs 21200
Buy Titan Company with a stop loss of Rs 1258 and target of Rs 1295
Prakash Gaba of prakashgaba.com
Buy Hero MotorCorp with target at Rs 2850 and stop loss at Rs 2730
Sell Raymond with target at Rs 775 and stop loss at Rs 825
Sell State Bank of India with target at Rs 325 and stop loss at Rs 345
Disclaimer: 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.
