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Bulls continued to dominate Dalal Street for third consecutive session on Wednesday. Despite mixed global cues, the Nifty50 closed above psychological 11,000 levels for the first time since February 7, 2019.
The index rallied 65.55 points to 11,053 and formed bullish candle on the daily charts. The 30-share BSE Sensex climbed 193.56 points to 36,636.10.
The short term trend is expected to be positive after crossing psychological levels, but there could be some consolidation following three-day rally, experts said.
According to Pivot charts, the key support level is placed at 11,013.77, followed by 10,974.53. If the index starts moving upward, key resistance levels to watch out are 11,077.27 and 11,101.53.
The Nifty Bank index closed at 27,625.65, up 71.60 points on March 6. The important Pivot level, which will act as crucial support for the index, is placed at 27,517.97, followed by 27,410.23. On the upside, key resistance levels are placed at 27,707.57, followed by 27,789.43.
In an interview to CNBC-TV18, top market experts recommend which stocks to bet on for good returns:
Ashwani Gujral of ashwanigujral.com
Buy Raymond with a stop loss of Rs 810, target of Rs 845
Buy Escorts with a stop loss of Rs 730, target of Rs 760
Buy RBL Bank with a stop loss of Rs 620, target of Rs 642
Buy Bajaj Finance with a stop loss of Rs 2750, target of Rs 2810
Buy Tata Elxsi with a stop loss of Rs 940, target of Rs 975
Sudarshan Sukhani of s2analytics.com
Buy Bajaj Auto with stop loss at Rs 2865 and target of Rs 2960
Buy TCS with stop loss at Rs 1980 and target of Rs 2032
Buy Titan Company with stop loss at Rs 1038 and target of Rs 1090
Sell Sun TV Network with stop loss at Rs 628 and target of Rs 605
Sell BEML with stop loss at Rs 925 and target of Rs 875
Mitessh Thakkar of mitesshthakkar.com
Buy Interglobe Aviation with a stop loss of Rs 1204 and target of Rs 1270
Buy Jubilant Foodworks around Rs 1320 with stop loss of Rs 1299 and target of Rs 1365
Buy Reliance Industries with a stop loss of Rs 1246 and target of Rs 1300
Buy Titan Company with a stop loss of Rs 1043 and target of Rs 1080
Disclosure: Reliance Industries Ltd. is the sole beneficiary of Independent Media Trust which controls Network18 Media & Investments Ltd.
Disclaimer: The views and investment tips expressed by investment experts on moneycontrol.com/CNBC-TV18 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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