The market mayhem resurfaced and the equity benchmarks plummeted to its second-biggest single-day fall as worries about the impact of coronavirus on domestic as well as the global economy grew stronger.
Sensex eventually closed 2,713 points, or 7.96 percent down at 31,390 while Nifty ended 758 points or 7.61 percent down at 9,197.40.
BSE Midcap and Smallcap indices closed 5.94 percent and 5.66 percent down, respectively.
According to the pivot charts, the key support level for Nifty is placed at 9,040.93, followed by 8,884.47. If the index moves up, key resistance levels to watch out for are 9,478.04 and 9,758.67.
Nifty Bank closed with a massive loss of 8.21 percent at 23,101.15. The important pivot level, which will act as crucial support for the index, is placed at 22,714.86, followed by 22,328.53. On the upside, key resistance levels are placed at 23,780.86 and 24,460.53.
In an interview to CNBC-TV18, top market experts recommend which stocks to bet on for good returns:
Ashwani Gujral of ashwanigujral.com
Sell L&T Finance Holdings with a stop loss of Rs 74, target of Rs 62
Sell Piramal Enterprises with a stop loss of Rs 870, target of Rs 800
Sell JSW Steel with a stop loss of Rs 195, target of Rs 170
Buy HPCL with a stop loss of Rs 198, target of Rs 214
Buy PVR with a stop loss of Rs 1300, target of Rs 1410
Sudarshan Sukhani of s2analytics.com
Buy ACC with stop loss at Rs 1100 and target of Rs 1179
Buy Escorts with stop loss at Rs 612 and target of Rs 675
Sell Just Dial with stop loss at Rs 355 and target of Rs 302
Sell Hindalco Industries with stop loss at Rs 121 and target of Rs 109
Mitesh Thakkar of miteshthakkar.com
Buy Asian Paints with a stop loss of Rs 1669 for target of Rs 1715
Buy Hindustan Unilever with a stop loss of Rs 1925 for target of Rs 1975
Buy Bandhan Bank with a stop loss of Rs 268 for target of Rs 286
Buy HDFC Life with a stop loss of Rs 467 for target of Rs 490
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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