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

Prakash Gaba of recommends buying Escorts with target at Rs 900 and stop loss at Rs 870 and ICICI Bank with target at Rs 560 and stop loss at Rs 545.

February 13, 2020 / 01:44 PM IST

The market continued its rally for the second consecutive session on February 12 after the positive momentum in global peers amid reports that the risk of coronavirus spreading further is fading away.

The BSE Sensex climbed 349.76 points to 41,565.90, while the Nifty50 rose 93.30 points to 12,201.20 and formed a bullish candle on daily charts.

According to the pivot charts, the key support level for Nifty is placed at 12,153.07, followed by 12,104.93. If the index moves up, key resistance levels to watch out for are 12,240.57 and 12,279.93.

Nifty Bank closed at 31,492.90, up 0.61 percent. The important pivot level, which will act as crucial support for the index, is placed at 31,397.87, followed by 31,302.83. On the upside, key resistance levels are placed at 31,588.27 and 31,683.63.