Top buy and sell ideas by Sudarshan Sukhani, Mitessh Thakkar, Prakash Gaba for short term

Sudarshan Sukhani of s2analytics.com recommends buying Tata Consultancy Services with stop loss at Rs 2245 and target of Rs 2350 and Balkrishna Industries with stop loss at Rs 735 and target of Rs 770

The market rallied sharply and posted the biggest single-day gain in last three months on August 26, driven by a rally across sectors except for metals. The measures to boost the economy and possible trade talks between US-China lifted sentiment.

The BSE Sensex surged 792.96 points or 2.16 percent to 37,494.12 while the Nifty50 rose 228.50 points or 2.11 percent to close above psychological 11,000 levels, at 11,057.90 and formed bearish candle on daily charts.

The market breadth remained in favour of bulls as more than two shares advanced for every share declining on the NSE. The Nifty Midcap index was up 1.6 percent and Smallcap index gained 2.3 percent.

According to the pivot charts, key support level is placed at 10,852.77, followed by 10,647.73. If the index starts moving upward, key resistance levels to watch out for are 11,166.57 and 11,275.33.

Nifty Bank closed at 27,951.35, up 992.70 points on August 26. The important pivot level, which will act as crucial support for the index, is placed at 27,208.66, followed by 26,466.03. On the upside, key resistance levels are placed at 28,344.56 and 28,737.83.

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