Selling pressure continued in the market amid consolidation on February 25 as investors assessed the economic impact of the deadly coronavirus that has so far claimed over 2,700 lives and infected over 80,000.
The BSE Sensex was down 82.03 points at 40,281.20, while the Nifty 50 fell 31.50 points to 11,797.90, forming a bearish candle on daily charts.
Market breadth was in favour of bears as about three shares declined for every two shares rising on the BSE.
According to the pivot charts, the key support level for Nifty is placed at 11,757.53, followed by 11,717.17. If the index continues moving up, key resistance levels to watch out for are 11,860.63 and 11,923.37.
Nifty Bank closed at 30,432.70, down 22.40 points. The important pivot level, which will act as crucial support for the index, is placed at 30,304.83, followed by 30,176.97. On the upside, key resistance levels are placed at 30,585.63 and 30,738.56.
In an interview to CNBC-TV18, top market experts recommend which stocks to bet on for good returns:
Ashwani Gujral of ashwanigujral.com
Buy NIIT Tech with a stop loss of Rs 1880, target of Rs 1940
Buy State Bank of India with a stop loss of Rs 320, target of Rs 345
Sell Piramal Enterprises with a stop loss of Rs 1525, target of Rs 1450
Sell Amara Raja Batteries with a stop loss of Rs 717, target of Rs 695
Sell REC with a stop loss of Rs 137, target of Rs 124
Sudarshan Sukhani of s2analytics.com
Sell Adani Ports with a stop loss of Rs 363 for target of Rs 345
Sell Larsen & Toubro with a stop loss of Rs 1260 for target of Rs 1205
Sell UltraTech Cement with a stop loss of Rs 4400 for target of Rs 4240
Buy Havells India around Rs 640 with stop loss of Rs 632.5 for target of Rs 655
Mitesh Thakkar of miteshthakkar.com
Buy Hindustan Unilever with stop loss at Rs 2100 and target of Rs 2300
Buy M&M Financial Services with stop loss at Rs 355 and target of Rs 385
Sell NMDC with stop loss at Rs 104 and target of Rs 95
Sell Hindalco Industries with stop loss at Rs 178 and target of Rs 165Disclaimer: 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.