Indian benchmark indices Sensex and Nifty extended their losses into the second consecutive session as they ended lower after a volatile session on January 28, tracking weak global cues.
Major stock markets across the globe remained were under pressure after the death toll and the incidence rate of the Chinese coronavirus escalated.
Sensex closed the day below 42,000-mark at 40,966.86, losing 188 points or 0.46 percent from the previous day's close. Nifty finished with a loss of 63 points, or 0.52 percent, at 12,055.80.
According to the pivot charts, the key support level for Nifty is placed at 11,999.03, followed by 11,942.27. If the index moves up, key resistance levels to watch out for are 12,138.03 and 12,220.27.
Nifty Bank closed 0.25 percent down at 30,761.40. The important pivot level, which will act as crucial support for the index, is placed at 30,595.67, followed by 30,429.93. On the upside, key resistance levels are placed at 30,987.77 and 31,214.13.
In an interview to CNBC-TV18, top market experts recommend which stocks to bet on for good returns:
Ashwani Gujral of ashwanigujral.com
Sell Bharti Airtel with a stop loss of Rs 500, target of Rs 478
Sell Vedanta with a stop loss of Rs 146, target of Rs 134
Sell Jubilant Foodworks with a stop loss of Rs 1770, target of Rs 1720
Buy NIIT Tech with a stop loss of Rs 1975, target of Rs 2100
Buy Mahanagar Gas with a stop loss of Rs 1210, target of Rs 1255
Sudarshan Sukhani of s2analytics.com
Buy Castrol India with stop loss at Rs 131 and target of Rs 139
Buy Nestle India with stop loss at Rs 15,250 and target of Rs 15,985
Buy JSW Steel with stop loss at Rs 252 and target of Rs 263
Buy Titan Company with stop loss at Rs 1175 and target of Rs 1235
Mitesh Thakkar of miteshthakkar.com
Buy BPCL with a stop loss of Rs 470 for target of Rs 500
Buy Larsen & Toubro with a stop loss of Rs 1330 for target of Rs 1380
Buy Britannia Industries with a stop loss of Rs 3135 for target of Rs 3270
Sell ITC around Rs 232 with stop loss of Rs 236.5 for target of Rs 222
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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