Rajesh Agarwal of AUM Capital recommends buying VIP Industries with stop-loss at Rs 475 and target of Rs 505, YES Bank with the stop loss at Rs 182 and target of Rs 198 and Axis Bank with the stop loss at Rs 623 and target of Rs 642.
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After a correction amid volatility in early trade, the Nifty 50 managed to gain strength and closed above crucial 10,600 levels on November 26. It was a strong reversal amid a sharp decline in crude oil prices and firm global cues after a 1.5 percent fall in last week.
The index formed a bullish candle, which resembles a 'Hammer' kind of pattern on the daily charts.
The 50-share NSE Nifty closed 101.80 points or 0.97 percent higher at 10,628.60 while the 30-share BSE Sensex gained 373.06 points or 1.07 percent at 35,354.08.
The market showed a smart recovery but has been rangebound and the same is expected to continue for a couple of weeks, experts said, adding the rally is only possible if the Nifty crosses 10,774 levels.
According to Pivot charts, the key support level is placed at 10,533, followed by 10,437.4. If the index starts moving upwards, key resistance levels to watch out are 10,681 and then 10,733.4.
The Nifty Bank index closed at 10,733.4, up 366.15 points on Monday. The important Pivot level, which will act as crucial support for the index, is placed at 26,128.26, followed by 25,890.93. On the upside, key resistance levels are placed at 26,499.76, followed by 26,633.93.
Here are the top stock trading ideas which can give good returns in the near term:
Nandish Shah of HDFC Securities
Buy ITC with the target at Rs 304 and stop loss at Rs 276
Buy Canara Bank with the target at Rs 290 and stop loss at Rs 248
Buy PVR with the target at Rs 1530 and stop loss at Rs 1375
Rajesh Agarwal of AUM Capital
Buy VIP Industries with stop-loss at Rs 475 and target of Rs 505
Buy YES Bank with the stop loss at Rs 182 and target of Rs 198
Buy Axis Bank with the stop loss at Rs 623 and target of Rs 642
Buy Unichem Laboratories with the stop loss at Rs 197 and target of Rs 209
Buy Jyothy Laboratories with stop-loss at Rs 187 and target of Rs 199
Disclaimer: The views and investment Free Stock tips expressed by investment experts here are their own, and not that of the website or its management. We advise users to check with certified experts before taking any investment decisions.source:- Moneycontrol
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