The 30-share Sensex settled 127 points, or 0.31 percent, lower at 40,675.45, with 21 stocks in the red, while the Nifty index closed with a loss of 54 points, or 0.45 percent at 11,994.20, with 11 stocks up and 39 down.
Secondary barometers underperformed Sensex as the BSE Midcap and Smallcap indices ended 0.95 percent and 0.74 percent down, respectively.
The market is cautiously awaiting RBI monetary policy meet outcome on December 5 where it expects the central bank to cut interest rate by 25 basis points (bps) despite higher inflation. On the global front, investors would watch out for development on the US-China trade deal and currency and crude price movement.
According to the pivot charts, key support level for Nifty is placed at 11,944.2, followed by 11,894.2. If the index moves up, key resistance levels to watch out for are 12,056.4 and 12,118.6.
Nifty Bank closed 0.81 percent down at 31,613.35. The important pivot level, which will act as crucial support for the index, is placed at 31,431.93, followed by 31,250.57. On the upside, key resistance levels are placed at 31,865.63 and 32,117.96.
In an interview to CNBC-TV18, top market experts recommend which stocks to bet on for good returns:
Ashwani Gujral of ashwanigujral.com
Buy Bata India with a stop loss of Rs 1670, target of Rs 1720
Buy Kotak Mahindra Bank with a stop loss of Rs 1630, target of Rs 1675
Buy ICICI Prudential with a stop loss of Rs 498, target of Rs 520
Sell Tata Steel with a stop loss of Rs 405, target of Rs 390
Sell Interglobe Aviation with a stop loss of Rs 1420, target of Rs 1365
Sudarshan Sukhani of s2analytics.com
Sell Hindalco Industries with stop loss at Rs 199 and target of Rs 192
Sell Interglobe Aviation with stop loss at Rs 1415 and target of Rs 1375
Buy Tata Consultancy Services with stop loss at Rs 2020 and target of Rs 2085
Buy Balkrishna Industries with stop loss at Rs 908 and target of Rs 935
Mitesh Thakkar of miteshthakkar.com
Sell Eicher Motors below Rs 21200 with stop loss of Rs 21500 for target of Rs 20600
Buy Max Financial Services around Rs 523 with stop loss of Rs 514 for target of Rs 545
Sell Vedanta with a stop loss of Rs 143.2 for target of Rs 133
Buy NMDC with a stop loss of Rs 105.5 for target of Rs 113
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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