Benchmark indices snapped a seven-day losing streak on March 3 after various central banks hinted policy initiatives to counter the economic slowdown in their respective countries.
Sensex rose 480 points to end at 38,623.70 while Nifty jumped 171 points to close at 11,303.30.
The Reserve Bank of India (RBI) said it is "monitoring global and domestic developments closely and continuously".
According to the pivot charts, the key support level for Nifty is placed at 11,189.8, followed by 11,076.3. If the index moves up, key resistance levels to watch out for are 11,379.5 and 11,455.7.
Nifty Bank closed 1.07 percent up at 29,177.05. The important pivot level, which will act as crucial support for the index, is placed at 28,856.03, followed by 28,534.96. On the upside, key resistance levels are placed at 29,391.73 and 29,606.37.
In an interview to CNBC-TV18, top market experts recommend which stocks to bet on for good returns:
Ashwani Gujral of ashwanigujral.com
Buy Sun Pharma with a stop loss of Rs 388, target of Rs 404
Buy Cipla with a stop loss of Rs 420, target of Rs 435
Sell Tata Motors with a stop loss of Rs 135, target of Rs 120
Sell JSW Steel with a stop loss of Rs 252, target of Rs 236
Sell Raymond with a stop loss of Rs 505, target of Rs 475
Sudarshan Sukhani of s2analytics.com
Sell Marico with stop loss at Rs 301 and target of Rs 291
Sell PVR with stop loss at Rs 1756 and target of Rs 1711
Buy Ambuja Cements with stop loss at Rs 206 and target of Rs 219
Buy Tata Elxsi with stop loss at Rs 1005 and target of Rs 1080
Mitesh Thakkar of miteshthakkar.com
Sell Equitas Holdings with a stop loss of Rs 108.5 for target of Rs 98
Buy Coal India around Rs 177 with stop loss of Rs 173 for target of Rs 185
Sell Berger Paints with a stop loss of Rs 551 for target of Rs 521
Buy Biocon with a stop loss of Rs 297 for target of Rs 318
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.