Bulls were back in action on August 14 after a day of steep fall. The benchmark indices recouped more than half of losses and gained a percent on delayed US tariffs on some Chinese goods and hope of measures from government to revive economy.
The BSE Sensex rallied 353.37 points to 37,311.53 while the Nifty50 climbed 103.50 points to 11,029.40 and formed small bullish candle which resembles a Bearish Harami kind of formation of daily scale.
The broader markets also gained momentum with the Nifty Midcap index rising 1 percent and Smallcap index climbing 0.7 percent. All sectoral indices closed in green except Pharma.
According to the pivot charts, key support level is placed at 10,950.6, followed by 10,871.8. If the index starts moving upward, key resistance levels to watch out for are 11,093.2 and 11,157.
Nifty Bank closed at 28,019.20, up 290.10 points on August 14. The important pivot level, which will act as crucial support for the index, is placed at 27,794.9, followed by 27,570.6. On the upside, key resistance levels are placed at 28,175.3 and 28,331.4.
In an interview to CNBC-TV18, top market experts recommend which stocks to bet on for good returns:
Mitessh Thakkar of mitesshthakkar.com
Sell Kotak Mahindra Bank with a stop loss of Rs 1502 and target of Rs 1460
Sell Britannia Industries with stop loss of Rs 2520 and target of Rs 2400
Buy IDFC First Bank around Rs 43.5 with stop loss of Rs 42.3 and target of Rs 46
Sell Lupin with a stop loss of Rs 742 and target of Rs 716
Prakash Gaba of prakashgaba.com
Buy Torrent Pharma with target at Rs 1730 and stop loss at Rs 1670
Sell Glenmark Pharma with target at Rs 375 and stop loss at Rs 390
Sell Wipro with target at Rs 245 and stop loss at Rs 255
Jai Bala of cashthechaos.com
Short United Spirits with target of Rs 540 and stop loss at Rs 610
Short Amara Raja Batteries with stop loss at Rs 658 and target of Rs 570
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.
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