Sensex and Nifty ended with losses of about 0.7 percent each, with IT, FMCG, metal and PSU banks falling the most.
According to the pivot charts, the key support level for Nifty is placed at 11,816.6, followed by 11,776.4. If the index moves up, key resistance levels to watch out for are 11,925.1 and 11,993.4.
Nifty Bank closed 0.50 percent down at 31,160.35. The important pivot level, which will act as crucial support for the index, is placed at 31,053.27, followed by 30,946.23. On the upside, key resistance levels are placed at 31,340.07 and 31,519.83.
In an interview to CNBC-TV18, top market experts recommend which stocks to bet on for good returns:
Ashwani Gujral of ashwanigujral.com
Buy Bajaj Finance with a stop loss of Rs 3970, target of Rs 4060
Buy ICICI Bank with stop loss of Rs 524, target of Rs 540
Sell Apollo Tyres with a stop loss of Rs 164, target of Rs 152
Sell Zee Entertainment with a stop loss of Rs 276, target of Rs 260
Sell HPCL with a stop loss of Rs 265, target of Rs 250
Sudarshan Sukhani of s2analytics.com
Sell Havells India with stop loss at Rs 646 and target of Rs 631
Sell MCX India with stop loss at Rs 1125 and target of Rs 1050
Buy Petronet LNG with stop loss at Rs 266 and target of Rs 278
Buy Cadila Healthcare with stop loss at Rs 256 and target of Rs 274
Mitesh Thakkar of miteshthakkar.com
Sell NBCC with a stop loss of Rs 33.80 and target of Rs 30
Sell Aurobindo Pharma with a stop loss of Rs 440 and target of Rs 416
Buy L&T Finance Holdings around Rs 112 with stop loss of Rs 108 and target of Rs 122
Buy Kotak Mahindra Bank with a stop loss of Rs 1649 and target of Rs 1690
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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