The Sensex rallied 353.28 points to end at 41,142.66 while Nifty rose 109.50 points to 12,089.20.
According to the pivot charts, the key support level for Nifty is placed at 11,995.6, followed by 11,902.0. If the index moves up, key resistance levels to watch out for are 12,140.5 and 12,191.8.
Nifty Bank closed 1.03 percent higher at 31,002. The important pivot level, which will act as crucial support for the index, is placed at 30,733.2, followed by 30,464.5. On the upside, key resistance levels are placed at 31,168.2 and 31,334.5.
In an interview to CNBC-TV18, top market experts recommend which stocks to bet on for good returns: