Buy or sell: Top stock trading ideas by market experts which are good short term bets

Rajesh Agarwal of AUM Capital recommends buying PVR with stop loss at Rs 1372 and target of Rs 1420, Vindhya Telelink with stop loss at Rs 1500 and target of Rs 1590 and Navin Fluorine with stop loss at Rs 718 and target of Rs 785.

The Nifty50 after gap up opening started correction in late morning deals, but managed to claw back in last couple of hours of trade on short covering on Wednesday after big fall in previous two consecutive sessions.

The index closed sharply higher on reports of Prime Minister may be held economic review meeting to consider fiscal or monetary measures on Saturday, and ahead of industrial output and CPI inflation data due later in the day.

The Nifty hold on to its crucial support placed at 11,300 levels and made a small bullish candle, which looked like a 'Hammer' kind of formation on daily charts, after two big bearish candles in previous two trading sessions.

The Nifty50 opened sharply higher at 11,340.10, but wiped out all its gains in late morning deals to hit an intraday low of 11,250.20. The index managed to recoup those losses in last couple of hours of trade to hit day's high of 11,380.75 and closed 82.40 points higher at 11,369.90.

According to Pivot charts, the key support level is placed at 11,286.47, followed by 11,203.03. If the index starts moving upwards, key resistance levels to watch out are 11,417.07 and 11,464.23.

The Nifty Bank index closed at 26,819.20, up 11.70 points on Wednesday. The important Pivot level, which will act as crucial support for the index, is placed at 26,617.86, followed by 26,416.53. On the upside, key resistance levels are placed at 26,957.86, followed by 27,096.53.

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