The 30-share pack Sensex hit a fresh all-time high of 42,273.87 but failed to hold altitude and ended the day with a loss of 416 points, or 0.99 percent, at 41,528.91.
Nifty also hit a fresh record high of 12,430.50 in early trade but settled 128 points, or 1.03 percent, down at 12,224.55.
Secondary barometers BSE Midcap and Smallcap indices outperformed Sensex, ending 0.57 percent and 0.39 percent lower, respectively.
According to the pivot charts, the key support level for Nifty is placed at 12,150.77, followed by 12,077.03. If the index continues moving up, key resistance levels to watch out for are 12,364.37 and 12,504.23.
Nifty Bank closed 1.61 percent down at 31,080.65. The important pivot level, which will act as crucial support for the index, is placed at 30,779.77, followed by 30,478.83. On the upside, key resistance levels are placed at 31,652.77 and 32,224.83.
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 121, target of Rs 110
Sell RBL Bank with a stop loss of Rs 332, target of Rs 318
Sell Oil India Limited with a stop loss of Rs 152, target of Rs 140
Buy Jubilant Foodworks with a stop loss of Rs 1750, target of Rs 1810
Buy PVR with a stop loss of Rs 1900, target of Rs 1955
Sudarshan Sukhani of s2analytics.com
Sell Tata Motors with stop loss at Rs 198 and target of Rs 191
Sell Tata Steel with stop loss at Rs 494 and target of Rs 482
Sell BHEL with stop loss at Rs 46 and target of Rs 42.30
Buy NMDC with stop loss at Rs 134 and target of Rs 147
Prakash Gaba of prakashgaba.com
Buy Escorts with target of Rs 725 and stop loss at Rs 703
Sell Adani Ports with target of Rs 370 and stop loss at Rs 384
Sell Axis Bank with target of Rs 710 and stop loss at Rs 735
Sell PFC with target of Rs 105 and stop loss at Rs 115Disclaimer: 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.