The Nifty saw week of consolidation as it remained in a narrow range of 142 points and ended with a Hanging Man kind of formation.
The index, which opened with a small gap on the upside in morning trade on November 9, failed to hold on to gains and turned negative making the same pattern on daily charts.
According to Pivot charts, the key support level is placed at 10,546.83, followed by 10,508.47. If the index starts moving upwards, key resistance levels to watch out are 10,621.53 and then 10,657.87.
The Nifty Bank index closed at 25,771.0 on Friday. The important Pivot level, which will act as crucial support for the index, is placed at 25,638.93, followed by 25,506.87. On the upside, key resistance levels are placed at 25,506.87, followed by 25,954.87
In an interview to CNBC-TV18, top market experts recommend which stocks to bet on for good returns:
Ashwani Gujral of ashwanigujral.com
Buy BEML with a stop loss of Rs 724, target of Rs 750
Buy Bharat Electronics with a stop loss of Rs 96, target of Rs 104
Buy Century Textiles with a stop loss of Rs 885, target of Rs 910
Buy Ceat with a stop loss of Rs 1215, target of Rs 1265
Buy PVR with a stop loss of Rs 1430, target of Rs 1480
Sudarshan Sukhani of s2analytics.com
Buy Adani Ports with stop loss at Rs 321 and target of Rs 372
Buy Ajanta Pharma with stop loss at Rs 1050 and target of Rs 1180
Buy MRF with stop loss at Rs 65200 and target of Rs 68500
Buy Power Grid with stop loss at Rs 188 and target of Rs 197
Sell Reliance Infra with stop loss at Rs 354 and target of Rs 335
Mitessh Thakkar of mitesshthakkar.com
Buy Adani Ports with a stop loss of Rs 332 and target of Rs 350
Buy Aurobindo Pharma with a stop loss of Rs 795 and target of Rs 860
Buy Bosch with a stop loss of Rs 19500 and target of Rs 20500
Buy Oriental Bank of Commerce with a stop loss below Rs 84.8 and target of Rs 93
Source Credits : MoneyControl