Benchmark indices on February 24 posted massive losses amid rising concerns over the deadly impact of the coronavirus outbreak.
Sensex plunged 806.89 points or 1.96 percent, the biggest single day fall since February 1 this year to 40,363.23, while Nifty fell 251.50 points or 2.08 percent to 11,829.40.
The broader markets also fell in line with frontliners as the Nifty Midcap and Smallcap indices were down nearly 2 percent each.
All sectoral indices ended in the red with Nifty Metals (down 5.5 percent) and Auto (down 3.5 percent) falling the most, while the rest of indices declined 1-3 percent.
According to the pivot charts, the key support level for Nifty is placed at 11,757.7, followed by 11,686. If the index continues moving up, key resistance levels to watch out for are 11,956.8 and 12,084.2.
Nifty Bank closed at 30,455.10, down 1.58 percent. The important pivot level, which will act as crucial support for the index, is placed at 30,354.66, followed by 30,254.23. On the upside, key resistance levels are placed at 30,628.86 and 30,802.63.
In an interview to CNBC-TV18, top market experts recommend which stocks to bet on for good returns:
Ashwani Gujral of ashwanigujral.com
Sell JSW Steel with a stop loss of Rs 264, target of Rs 248
Sell Motherson Sumi Systems with a stop loss of Rs 118, target of Rs 104
Sell Bharat Forge with a stop loss of Rs 465, target of Rs 440
Buy Havells India with a stop loss of Rs 620, target of Rs 645
Buy Infosys with a stop loss of Rs 790, target of Rs 815
Sudarshan Sukhani of s2analytics.com
Sell Tata Motors with stop loss at Rs 153 and target of Rs 142
Sell Bosch with stop loss at Rs 14300 and target of Rs 13700
Sell Aurobindo Pharma with stop loss at Rs 512 and target of Rs 485
Sell UPL with stop loss at Rs 580 and target of Rs 554
Mitesh Thakkar of miteshthakkar.com
Sell Bata India around Rs 1765-1770 with stop loss of Rs 1785 for target of Rs 1725
Buy Escorts with a stop loss of Rs 825 for target of Rs 860
Sell Titan Company around Rs 1288 with stop loss of Rs 1305 for target of Rs 1255
Sell Vedanta around Rs 135.5-136 with stop loss of Rs 140 for target of Rs 128
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.
