Indian equity benchmarks closed with modest gains on March 5 as fears over coronavirus cases and its economic fallout continued weighing on sentiment.
Sensex traded in the green zone for the most part of the day; at one point in the day, the 30-share index was 478 points up.
However, it failed to hold altitude and pared most of the gains. Signs of improvement in the global cues offered little relief and the equity barometer Sensex eventually ended with a modest gain of 61 points, or 0.16 percent, at 38,470.61, while Nifty settled 18 points, or 0.16 percent, up at 11,269.
According to the pivot charts, the key support level for Nifty is placed at 11,212.57, followed by 11,156.13. If the index moves up, key resistance levels to watch out for are 11,357.47 and 11,445.93.
Nifty Bank closed 0.56 percent up at 28,815.35. The important pivot level, which will act as crucial support for the index, is placed at 28,522.5, followed by 28,229.7. On the upside, key resistance levels are placed at 29,121.2 and 29,427.1.
In an interview to CNBC-TV18, top market experts recommend which stocks to bet on for good returns:
Ashwani Gujral of ashwanigujral.com
Buy Jubilant Food with a stop loss of Rs 1695, target of Rs 1740
Buy PVR with a stop loss of Rs 1690, target of Rs 1745
Sell Hindalco Industries with a stop loss of Rs 160, target of Rs 146
Sell Reliance Industries with a stop loss of Rs 1325, target of Rs 1280
Sell Tech Mahindra with a stop loss of Rs 762, target of Rs 740
Mitesh Thakkar of miteshthakkar.com
Sell Axis Bank with a stop loss of Rs 688 for target of Rs 655
Sell Equitas Holdings with a stop loss of Rs 104 for target of Rs 95
Sell Bharti Infratel with a stop loss of Rs 219 for target of Rs 202
Sell Reliance Industries with a stop loss of Rs 1323 for target of Rs 1285
Prakash Gaba of prakashgaba.com
Buy Britannia Industries with target at Rs 3200 and stop loss at Rs 3100
Buy Bandhan Bank with target at Rs 445 and stop loss at Rs 414
Sell Bharti Infratel with target at Rs 200 and stop loss at Rs 222
Sell Just Dial with target at Rs 460 and stop loss at Rs 481
Disclosure: Reliance Industries Ltd. is the sole beneficiary of Independent Media Trust which controls Network18 Media & Investments Ltd.
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