Sudarshan Sukhani of s2analytics.com recommends buying RBL Bank with stop loss at Rs 370 and target of Rs 395 and Escorts with stop loss at Rs 515 and target of Rs 555.
Nifty continued to rally on September 11 for the fifth consecutive session, its longest streak in almost 6 months, supported by positive global cues on the back of easing US-China tensions.
Hopes of further stimulus by the government and GST rate cut on auto also gave a leg up to investor sentiment.
After opening higher, the index remained rangebound with a positive bias throughout the session, eventually closing with a gain of 33 points, or 0.30 percent, at 11,035.70, with 25 stocks up and 25 down.
The index maintained the psychological 11,000 level and saw a lot of resistance in the range of 11,050-11,100 levels, forming small-bodied bullish candle which resembles a Doji kind of pattern on daily charts.
India VIX fell by 3.01 percent to 15.37 levels. It has been making lower highs – lower lows from the last four sessions and recently corrected from 18.31 to 15 zones which is giving some stability to the market.
According to the pivot charts, key support level for Nifty is placed at 11,013.33, followed by 10,990.97. If the index remains on the upward trajectory, key resistance levels to watch out for are 11,056.43 and 11,077.17.
The Nifty Bank closed at 27,776.20, up 0.99 percent on September 11. The important pivot level, which will act as crucial support for the index, is placed at 27,608.7, followed by 27,441.2. On the upside, key resistance levels are placed at 27,886.7 and 27,997.2.
In an interview to CNBC-TV18, top market experts recommend which stocks to bet on for good returns:
Sudarshan Sukhani of s2analytics.com
Buy RBL Bank with stop loss at Rs 370 and target of Rs 395
Buy Escorts with stop loss at Rs 515 and target of Rs 555
Buy Tata Power with stop loss at Rs 59 and target of Rs 66
Buy PFC with stop loss at Rs 106 and target of Rs 118
Mitessh Thakkar of mitesshthakkar.com
Buy CESC with a stop loss of Rs 798 and target of Rs 850
Buy IndusInd Bank with a stop loss of Rs 1350 and target of Rs 1415
Buy Punjab National Bank with a stop loss of Rs 63.5 and target of Rs 68
Buy Tata Motors with a stop loss of Rs 129 and target of Rs 144
Prakash Gaba of prakashgaba.com
Buy Jindal Steel & Power with target at Rs 120 and stop loss at Rs 100
Buy Piramal Enterprises with target at Rs 2050 and stop loss at Rs 1920
Sell Wipro with target at Rs 245 and stop loss at Rs 251
Buy IndusInd Bank with target of Rs 1420 and stop loss at Rs 1350
