Mitesh Thakkar of miteshthakkar.com suggests selling Bajaj Finserv with a stop loss of Rs 9450 for target of Rs 9240 and Container Corp with a stop loss of Rs 526 for target of Rs 495.
The BSE Sensex fell below the psychological 40,000-mark, down 392.24 points at 39,888.96, taking the total four-day loss to over 1,400 points.
The Nifty 50 closed below the 200-day simple moving average (which was placed at 11,685), declining 119.40 points or 1.01 percent to 11,678.50, forming a bearish candle on daily charts.
Experts feel the market may remain volatile in the near term given the F&O expiry and spread of coronavirus outside China. The 200-day SMA would be a crucial level to watch out for.
According to the pivot charts, the key support level for Nifty is placed at 11,617.67, followed by 11,556.83. If the index continues moving up, key resistance levels to watch out for are 11,761.27 and 11,844.03.
Nifty Bank fell 0.41 percent to close at 30,306.80. The important pivot level, which will act as crucial support for the index, is placed at 30,120.64, followed by 29,934.47. On the upside, key resistance levels are placed at 30,504.14 and 30,701.47.
In an interview to CNBC-TV18, top market experts recommend which stocks to bet on for good returns:
Ashwani Gujral of ashwanigujral.com
Sell Jindal Steel & Power with a stop loss of Rs 175, target of Rs 162
Sell Oil India Limited with a stop loss of Rs 117, target of Rs 104
Sell NMDC with a stop loss of Rs 101, target of Rs 92
Buy Interglobe Aviation with a stop loss of Rs 1380, target of Rs 1425
Buy Jubilant Foodworks with a stop loss of Rs 1820, target of Rs 1885
Sudarshan Sukhani of s2analytics.com
Buy Havells India with stop loss at Rs 630 and target of Rs 665
Buy Interglobe Aviation with stop loss at Rs 1270 and target of Rs 1335
Sell PVR with stop loss at Rs 2050 and target of Rs 1945
Sell Tata Steel with stop loss at Rs 422 and target of Rs 408
Mitesh Thakkar of miteshthakkar.com
Sell Bajaj Finserv with a stop loss of Rs 9450 for target of Rs 9240
Sell Container Corp with a stop loss of Rs 526 for target of Rs 495
Buy GMR Infra with a stop loss of Rs 23.8 for target of Rs 25.6
Buy Pidilite Industries around Rs 1528 - 1530 with stop loss of Rs 1512 for target of Rs 1560Disclaimer: 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.