The market remained under pressure and ended lower for the fourth consecutive day on the back of weak global cues as United States opened a new trade war stating that it will impose tariffs on $7.5 billion of goods on the European Union.
The Sensex was down 198.54 points at 38106.87, while the Nifty was down 45.90 points at 11,314. About 958 shares have advanced, 1502 shares declined, and 155 shares are unchanged.
On the technical front, the Nifty50 registered a Doji kind of indecisive formation after moving in a range of 113 points.
According to the pivot charts, key support level for Nifty is placed at 11,257.4, followed by 11,200.8. If the index starts moving up, key resistance levels to watch out for are 11,370.5 and 11,427.
Nifty Bank closed with a loss of 307 percent at 28,418.50. The important pivot level, which will act as crucial support for the index, is placed at 28,180.23, followed by 27,946.37. On the upside, key resistance levels are placed at 28,708.53 and 29,002.96.
In an interview to CNBC-TV18, top market experts recommend which stocks to bet on for good returns:
Rajat Bose of rajatkbose.com
Buy CESC with stop loss below Rs 720 for targets of Rs 800 and Rs 820
Buy Zee Entertainment with stop loss below Rs 240 for target of Rs 260
Sell State Bank of India above Rs 261 for targets of Rs 245 and Rs 241
Sell Tata Steel with stop loss above Rs 347 for targets of Rs 333 and Rs 327
Mitessh Thakkar of mitesshthakkar.com
Buy Eicher Motors with a stop loss of Rs 17880 and target of Rs 19000
Buy ITC with a stop loss of Rs 257 and target of Rs 270
Buy Sun TV above Rs 490 with stop loss of Rs 480 and target of Rs 511
Sell Coal India with a stop loss of Rs 190.5 and target of Rs 178
Prakash Gaba of prakashgaba.com
Buy Biocon with target at Rs 240 and stop loss at Rs 228
Buy ITC with target at Rs 267 and stop loss at Rs 258
Sell Coal India with target at Rs 177 and stop loss at Rs 191
Sell Just Dial with target at Rs 640 and stop loss at Rs 675
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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