Benchmark indices Sensex and Nifty ended in the red for the seventh consecutive session on March 2 as concerns over coronavirus continued to weigh on investor sentiments. D-Street witnessed one of the most volatile sessions in the recent past, a 1000-point swing that wiped out most of the gains made on the Sensex while Nifty50 held onto its crucial support at 11,100 levels.
Sensex fell 153 points to close at 38,144 while Nifty ended 69 points lower at 11,132.75. Broader markets performed in line with benchmark indices as the S&P BSE Midcap index was down 0.65 percent while the S&P BSE Smallcap index fell 0.77 percent.
According to the pivot charts, the key support level for Nifty is placed at 10,968.33, followed by 10,803.87. If the index moves up, key resistance levels to watch out for are 11,365.13 and 11,597.47.
Nifty Bank closed 0.96 percent down at 28,868.40. The important pivot level, which will act as crucial support for the index, is placed at 28,363, followed by 27,857.6. On the upside, key resistance levels are placed at 29,582.5 and 30,296.6.
In an interview to CNBC-TV18, top market experts recommend which stocks to bet on for good returns:
Ashwani Gujral of ashwanigujral.com
Sell State Bank of India with a stop loss of Rs 292, target of Rs 278
Sell Bank of Baroda with a stop loss of Rs 74, target of Rs 66
Sell Tata Steel with a stop loss of Rs 369, target of Rs 354
Buy Ashok Leyland with a stop loss of Rs 68, target of Rs 80
Buy Escorts with a stop loss of Rs 840, target of Rs 875
Sudarshan Sukhani of s2analytics.com
Buy Castrol India with stop loss at Rs 147 and target of Rs 154
Buy Escorts with stop loss at Rs 830 and target of Rs 860
Buy Shriram Transport with stop loss at Rs 1260 and target of Rs 1315
Sell Jubilant Foodworks with stop loss at Rs 1680 and target of Rs 1625
Mitesh Thakkar of miteshthakkar.com
Sell Axis Bank around Rs 688 - 690 with a stop loss of Rs 705 for target of Rs 660
Buy Voltas with a stop loss of Rs 646 for target of Rs 695
Sell Ashok Leyland with a stop loss of Rs 76 for target of Rs 70
Buy Hindustan Unilever with stop loss of Rs 2150 for target of Rs 2200
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.
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