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The market closed higher for the first time in last nine consecutive sessions on Wednesday with the Nifty holding 10,700 levels, backed by positive global cues and relief rally in beaten down sectors.
The 30-share BSE Sensex rallied 403.65 points or 1.14 percent to 35,756.26 while the 50-share NSE Nifty gained 131.10 points or 1.24 percent to close at
10,735.50 and formed bullish candle on the daily charts after nine bearish candles.
The broader markets also traded in line with benchmarks. The Nifty Midcap and Smallcap indices gained 1 percent each with positive market breadth.
All sectoral indices also closed in the green. Nifty Bank, Metal and IT indices were prominent gainers.
According to Pivot charts, the key support level is placed at 10,670.37, followed by 10,605.23. If the index starts moving upward, key resistance levels to watch out are 10,776.67 and then 10,817.83.
The Nifty Bank index closed at 26,955.50, up 270.65 points on February 20. The important Pivot level, which will act as crucial support for the index, is placed at 26,796.97, followed by 26,638.43. On the upside, key resistance levels are placed at 27,049.77, followed by 27,144.04.
In an interview to CNBC-TV18, top market experts recommend which stocks to bet on for good returns:
Ashwani Gujral of ashwanigujral.com
Buy Wipro with a stop loss of Rs 368, target of Rs 384
Buy Tata Steel with a stop loss of Rs 480, target of Rs 515
Buy REC with a stop loss of Rs 124, target of Rs 136
Buy HDFC Bank with a stop loss of Rs 2095, target of Rs 2140
Buy Havells India with a stop loss of Rs 690, target of Rs 710
Sudarshan Sukhani of s2analytics.com
Buy HCL Tech with stop loss at Rs 1050 and target of Rs 1070
Buy Larsen & Toubro with stop loss at Rs 1265 and target of Rs 1290
Buy Reliance Industries with stop loss at Rs 1220 and target of Rs 1255
Sell Amara Raja Batteries with stop loss at Rs 732 and target of Rs 710
Sell Coal India with stop loss at Rs 218 and target of Rs 212
Disclosure: Reliance Industries Ltd. is the sole beneficiary of Independent Media Trust which controls Network18 Media & Investments Ltd.
Mitessh Thakkar of mitesshthakkar.com
Sell Amar Raja Batteries with a stop loss of Rs 740 and target of Rs 690
Buy HCL Tech around Rs 1050 with stop loss of Rs 1033 and target of Rs 1080
Sell PAGE Industries with a stop loss of Rs 21000 and target of Rs 19500
Buy Shriram Transport with a stop loss of Rs 1034 and target of Rs 1090
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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