Sensex rose 52.28 points to end at 41,306.02 while Nifty closed 14 points up at 12,182.50, forming a 'Spinning Top' formation on the daily charts.
The Nifty Midcap index gained 0.24 percent and Smallcap index rose 0.71 percent.
According to the pivot charts, the key support level for Nifty is placed at 12,157.8, followed by 12,133.1. If the index continues moving up, key resistance levels to watch out for are 12,214.7 and 12,246.9.
Nifty Bank fell 0.18 percent to close at 32,102.90. The important pivot level, which will act as crucial support for the index, is placed at 31,990.73, followed by 31,878.57. On the upside, key resistance levels are placed at 32,281.54 and 32,460.17.
In an interview to CNBC-TV18, top market experts recommend which stocks to bet on for good returns:
Ashwani Gujral of ashwanigujral.com
Buy M&M Financial Services with a stop loss of Rs 328, target of Rs 342
Buy NTPC with a stop loss of Rs 119, target of Rs 127
Sell Titan Company with a stop loss of Rs 1175, target of Rs 1120
Sell DLF with a stop loss of Rs 231, target of Rs 217
Sell Maruti Suzuki with a stop loss of Rs 7360, target of Rs 7250
Sudarshan Sukhani of s2analytics.com
Buy GAIL India with stop loss at Rs 119 and target of Rs 125
Buy HCL Tech with stop loss at Rs 568 and target of Rs 579
Buy M&M Financial Services with stop loss at Rs 327 and target of Rs 343
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