The BSE Sensex climbed 623.33 points to 39,434.72 while the Nifty50 rose 187.10 points to 11,844.10 on May 24 and formed bullish candle on weekly charts.
After a sharp run in the week gone by, the market is expected to be rangebound in coming sessions and traders will closely watch RBI monetary policy event scheduled on June 6, experts said.
According to the Pivot charts, the key support level is placed at 11,715.13, followed by 11,586.17. If the index starts moving upward, key resistance levels to watch out are 11,916.03 and 11,987.97.
The Nifty Bank index closed at 31,212.55, up 803.45 points on May 24. The important Pivot level, which will act as crucial support for the index, is placed at 30,759.53, followed by 30,306.47. On the upside, key resistance levels are placed at 31,470.53, followed by 31,728.47.
In an interview to CNBC-TV18, top market experts recommend which stocks to bet on for good returns:
Sudarshan Sukhani of s2analytics.com
Buy ICICI Bank with stop loss at Rs 426 and target of Rs 438
Buy ACC with stop loss at Rs 1686 and target of Rs 1735
Buy Hindustan Unilever with stop loss at Rs 1745 and target of Rs 1780
Buy Raymond with stop loss at Rs 846 and target of Rs 868
Sell Sun TV with stop loss at Rs 545 and target of Rs 519
Rajat Bose of rajatkbose.com
Buy Bajaj Auto with stop loss below Rs 3058 for targets of Rs 3098 and Rs 3110
Buy Bharti Airtel with stop loss below Rs 348.50 for targets of Rs 358 and and Rs 360.50
Sell Kajaria Ceramics May Futures with stop loss above Rs 610 for targets of Rs 596 and Rs 591
Prakash Gaba of prakashgaba.com
Buy Bharat Forge with target at Rs 500 and stop loss at Rs 465
Buy Exide Industries with target at Rs 230 and stop loss at Rs 216
Buy Mahindra & Mahindra with target at Rs 690 and stop loss at Rs 648
Buy NBCC with target at Rs 66 and stop loss at Rs 59