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The market hit a fresh six-month high and closed the March series expiry day on a strong note on March 28. The Nifty50 crossed its recent swing high and moved closer to 11,600 levels while the Bank Nifty ends at record closing high on hope of rate cut in April policy meeting and recapitalisation of PSU banks.
The BSE Sensex rallied 412.84 or 1.08 percent to 38,545.72 while the Nifty50 climbed 125 points or 1.09 percent to 11,570 and formed bullish candle on daily charts. In March series, BSE Sensex surged 7.5 percent and Nifty50 jumped 7.2 percent, the biggest gains in a series since January 2015.
According to the Pivot charts, the key support level is placed at 11,485.5, followed by 11,401. If the index starts moving upward, key resistance levels to watch out are 11,621.5 and 11,673.
The Nifty Bank index closed at 30,420.55, up 400.75 points on March 28. The important Pivot level, which will act as crucial support for the index, is placed at 30,094.43, followed by 29,768.27. On the upside, key resistance levels are placed at 30,621.43, followed by 30,822.27.
In an interview to CNBC-TV18, top market experts recommend which stocks to bet on for good returns:
Ashwani Gujral of ashwanigujral.com
Buy Syndicate Bank with a stop loss of Rs 40, target of Rs 47
Buy Indian Bank with a stop loss of Rs 274, target of Rs 286
Buy Indiabulls Housing Finance with a shttp://www.moneycontrol.com/india/stockpricequote/personal-care/daburindia/DItop loss of Rs 800, target of Rs 825
Buy Adani Ports with a stop loss of Rs 376, target of Rs 392
Buy Muthoot Finance with a stop loss of Rs 600, target of Rs 625
Mitessh Thakkar of mitesshthakkar.com
Buy Piramal Enterprises with a stop loss of Rs 2660 and target of Rs 2750
Buy ITC with a stop loss of Rs 295 and target of Rs 310
Buy HCL Tech with stop loss of Rs 1065, target of Rs 1120
Sell Dabur India with a stop loss of Rs 417 and target of Rs 400
Prakash Gaba of prakashgaba.com
Buy Nestle India with target at Rs 11400-11500 and stop loss at Rs 10800
Buy Indian Bank with target at Rs 300 and stop loss at Rs 264
Buy Siemens with target at Rs 1130 and stop loss at Rs 1060
Buy Tata Consultancy Services with target of Rs 2050 and stop loss at Rs 1970
Disclaimer: The views and investment tips expressed by investment experts on moneycontrol.com/CNBC-TV18 are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
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