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Top buy and sell ideas by Ashwani Gujral, Mitesh Thakkar, Prakash Gaba for short term

Prakash Gaba of prakashgaba.com recommends buying Havells India with target at Rs 645 and stop loss at Rs 623 and IndusInd Bank with target at Rs 1425 and stop loss at Rs 1297.

February 07, 2020 / 12:34 PM IST

Market benchmarks Sensex and Nifty extended their winning streak into the fourth consecutive session on February 6 after the Reserve Bank of India announced measures that are seen as positive for bank, auto and real estate sectors.

Sensex ended the day at 41,306.03, up 163 points or 0.40 percent while Nifty closed with a gain of 49 points or 0.40 percent.

According to the pivot charts, the key support level for Nifty is placed at 12,094.93, followed by 12,051.87. If the index continues moving up, key resistance levels to watch out for are 12,170.83 and 12,203.67.

Nifty Bank closed 0.97 percent up at 31,304.05. The important pivot level, which will act as crucial support for the index, is placed at 30,990.63, followed by 30,677.17. On the upside, key resistance levels are placed at 31,544.13 and 31,784.17.