The Sensex plunged 1,710 points to close at 28,869.51 while Nifty fell 498 points to end at 8,468.80.
According to the pivot charts, the key support level for Nifty is placed at 8208.05, followed by 7947.3. If the index moves up, key resistance levels to watch out for are 8928.55 and 9388.3.
Nifty Bank closed 7.11 percent down at 20,580.20. The important pivot level, which will act as crucial support for the index, is placed at 19717.37, followed by 18854.53. On the upside, key resistance levels are placed at 21993.56 and 23406.93.
In an interview to CNBC-TV18, top market experts recommend which stocks to bet on for good returns:
Ashwani Gujral of ashwanigujral.com
Buy Oil India Limited with a stop loss of Rs 72, target of Rs 80
Buy Bharat Electronics with a stop loss of Rs 68, target of Rs 76
Sell Maruti Suzuki with a stop loss of Rs 5500, target of Rs 5000
Sell Escorts with a stop loss of Rs 585, target of Rs 550
Sell Shriram Transport with a stop loss of Rs 700, target of Rs 650
Sudarshan Sukhani of s2analytics.com
Sell Cipla with stop loss at Rs 395 and target of Rs 360
Sell Petronet LNG with stop loss at Rs 200 and target of Rs 180
Sell Asian Paints with stop loss at Rs 1650 and target of Rs 1515
Sell Tata Steel with stop loss at Rs 286 and target of Rs 275
Mitesh Thakkar of miteshthakkar.com
Sell Bharat Forge with a stop loss of Rs 354 for target of Rs 330
Sell Maruti Suzuki with a stop loss of Rs 5455 for target of Rs 5000
Sell Apollo Hospitals with a stop loss of Rs 1300 for target of Rs 1244
Sell Hindustan Unilever below Rs 1910 with stop loss of Rs 1926 for target of Rs 1880
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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