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Top buy and sell ideas by Ashwani Gujral, Sudarshan Sukhani, Mitesh Thakkar for short term

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.

February 27, 2020 / 11:40 AM IST

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.