Sensex closed 260 points, or 0.62 percent, higher at 41,859.69 while Nifty shut shop at 12,329.55, up 73 points, or 0.59 percent.
BSE Midcap and Smallcap indices outperformed Sensex, closing with gains of 0.87 percent and 0.95 percent, respectively.
According to the pivot charts, the key support level for Nifty is placed at 12,297.6, followed by 12,265.7. If the index continues moving up, key resistance levels to watch out for are 12,349.6 and 12,369.7.
Nifty Bank closed 0.25 percent up at 32,177.65. The important pivot level, which will act as crucial support for the index, is placed at 32,060.3, followed by 31,942.9. On the upside, key resistance levels are placed at 32,308.9 and 32,440.1.
In an interview to CNBC-TV18, top market experts recommend which stocks to bet on for good returns:
Ashwani Gujral of ashwanigujral.com
Buy VIP Industries with a stop loss of Rs 450, target of Rs 475
Buy Sobha with a stop loss of Rs 438, target of Rs 460
Buy Bandhan Bank with a stop loss of Rs 509, target of Rs 525
Buy Tata Elxsi with a stop loss of Rs 885, target of Rs 910
Buy L&T Finance Holdings with a stop loss of Rs 122, target of Rs 134
Sudarshan Sukhani of s2analytics.com
Buy Britannia Industries with stop loss at Rs 3010 and target of Rs 3150
Buy Cipla with stop loss at Rs 468 and target of Rs 495
Sell Cadila Healthcare with stop loss at Rs 261 and target of Rs 245
Mitesh Thakkar of miteshthakkar.com
Buy Bharti Airtel with a stop loss of Rs 461 for target of Rs 485
Buy GAIL India with a stop loss of Rs 125 for target of Rs 137
Buy Hindustan Unilever with a stop loss of Rs 1975 for target of Rs 2040
Buy NTPC with a stop loss of Rs 120 for target of Rs 126
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.