Top buy & sell ideas by Ashwani Gujral, Mitessh Thakkar & Prakash Gaba for March 12

The Nifty formed a bearish candle on the daily charts but made a Bearish Belt Hold kind of pattern on the weekly charts which suggest that the pain may not be over.

A ‘Bearish Belt Hold’ pattern is formed when the opening price for the week becomes the highest point of the week and the index declines throughout the trading week making up for the large body. The candle will either have a small or no upper shadow and small lower shadow.

On Friday, the index opened at 10,271 and rose marginally to hit an intraday high of 10,296. But bears soon took control and pushed the index towards 10,200 to hit an intraday low of 10,211. It closed 15 points lower at 10,226.85.

 According to Pivot charts, the key support level is placed at 10,193.57, followed by 10,160.33. If the index starts to move higher, key resistance levels to watch out are 10,278.37 and 10,329.93.

The Nifty Bank closed at 24,296.4 on Friday. The important Pivot level, which will act as crucial support for the index, is placed at 24,182.46, followed by 24,068.53. On the upside, key resistance levels are placed at 24,487.57, followed by 24,678.73.

The Nifty futures on the Singaporean stock exchange were trading higher by around 125 points at 10,338, a rise of around 1.22 percent. This indicates that the domestic market is likely to open on a positive note. has collated a list of trading ideas from top market experts which one can take cues for better returns:

Ashwani Gujral of

Buy Tech Mahindra with a stop loss of Rs 614, target of Rs 635

Buy Tata Consultancy Services with a stop loss of Rs 3000, target of Rs 3150

Sell Hindalco Industries with a stop loss of Rs 225, target of Rs 200

Sell Axis Bank with a stop loss of Rs 510, target of Rs 490

Sell Sun Pharmaceutical Industries with a stop loss of Rs 512, target of Rs 490

Mitessh Thakkar of

Buy Jubilant Foodworks with a stop loss of Rs 2039 and target of Rs 2115

Buy Bajaj Finance with a stop loss of Rs 1636 and target of Rs 1695

Buy Tech Mahindra with a stop loss of Rs 610 and target of Rs 640

Buy TV18 Broadcast above Rs 63.25 with stop loss of Rs 61.9 and target of Rs 67

Sell UltraTech Cement below Rs 4050 with stop loss of Rs 4100 and target of Rs 3960

Prakash Gaba of

Sell Bank of Baroda with target at Rs 125 and stop loss at Rs 135

Sell Biocon with target at Rs 580 and stop loss at Rs 610

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