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

Mitesh Thakkar of miteshthakkar.com suggests selling Axis Bank with a stop loss of Rs 688 for target of Rs 655 and Equitas Holdings with a stop loss of Rs 104 for target of Rs 95.

March 06, 2020 / 12:35 PM IST

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.