Top Stock Recommendations: Sagar Doshi of Nuvama suggests IEX, CCL Products, and Balrampur Chini Mills today

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Also Read: Stock market today: Nifty 50, Sensex end flat; midcaps, smallcaps continue their outperformanceNifty 50 has recovered its election result day losses and is consolidating above the result day’s high. On hourly charts, Nifty 50 is trying to form a cup and handle pattern on which dips towards 23,000 and is likely to get bought into for an upside target of 23,500 / 23,800.

India VIX has also dropped over 50% from its last week’s high, suggesting that uncertainty and fear are reducing in the current state of market. Support right now is being seen at 22,770 odd while dips near 23,000 are likely to act as buying zone.Bank Nifty is facing supply zone after reclaiming the psychological 50k mark, for now an immediate support is seen sub 49,450 mark with a 1% tradable stop loss for the index to reverse back above 50,500 / 51,000.

Private banks are seen consolidating with a positive bias for the past 2 trading days, a retest of 49,450 mark is likely to ignite fresh buyers on the index.Also Read: Sensex Today | Share Market Live Updates: Sensex up 350 pts, Nifty above 23,350 as IT pack gains; Reliance Power up 7%On top stock recommendations for Wednesday, Sagar Doshi has recommended three stocks:According to Sagar, the stock is in verge of giving 6 months consolidation break out . The stock has formed higher high pattern and recent outperformance suggest it may cross 190 mark soon .