Investor risk appetite remained low as lower than expected auto sales, weak core sector output and GDP data raised concerns over the health of the domestic economy. All eyes are now on the RBI's monetary policy meet outcome on December 5.
The BSE Sensex closed 8 points up at 40,802 and the Nifty50 index slipped 8 points to 12,048. Among secondary barometers, the BSE Midcap index lost 0.77 percent while the BSE Smallcap index declined 0.39 percent, underperforming the Sensex.
On the technical front, experts said near-term critical support for Nifty is placed around 13-day exponential moving average whose supporting value for the next trading session is placed around 12,006.
According to the pivot charts, key support level for Nifty is placed at 12,002.2, followed by 11,956.2. If the index moves up, key resistance levels to watch out for are 12,115.7 and 12,183.2.
Nifty Bank closed 0.23 percent down at 31,871.45. The important pivot level, which will act as crucial support for the index, is placed at 31,719.97, followed by 31,568.53. On the upside, key resistance levels are placed at 32,023.47 and 32,175.53.
In an interview to CNBC-TV18, top market experts recommend which stocks to bet on for good returns:
Ashwani Gujral of ashwanigujral.com
Buy Escorts with a stop loss of Rs 658, target of Rs 680
Buy JSW Steel with a stop loss of Rs 262, target of Rs 278
Buy Asian Paints with a stop loss of Rs 1730, target of Rs 1775
Buy Prestige Estates with a stop loss of Rs 317, target of Rs 332
Buy BEML with a stop loss of Rs 1020, target of Rs 1065
Sudarshan Sukhani of s2analytics.com
Sell Apollo Hospitals with stop loss at Rs 1435 and target of Rs 1375
Sell NTPC with stop loss at Rs 118 and target of Rs 112
Buy Godrej Consumer Products with stop loss at Rs 715 and target of Rs 750
Buy Voltas with stop loss at Rs 682 and target of Rs 715
Mitesh Thakkar of miteshthakkar.com
Buy Ambuja Cements with a stop loss of Rs 205 for target of Rs 217
Sell Just Dial with a stop loss of Rs 550.5 and target of Rs 515
Sell Shriram Transport Finance with a stop loss of Rs 1116 for target of Rs 1070
Buy JSW Energy with a stop loss of Rs 73.5 for target of Rs 82
Disclaimer: The views and investment tips expressed by investment experts on moneycontrol.com 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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