September 24, 2019 / 12:49 IST
Indian market remained in positive territory for the second consecutive session on September 23 as investors continued their buying spree in the wake of government's decision to slash corporate tax rate.
Sensex closed the day with a robust gain of 1,075 points or 2.83 percent at 39,090.03, with 16 stocks in the green and 14 in the red. The Nifty index jumped 326 points or 2.89 percent to settle at 11,600.20. Among the 50 stocks in the index, 32 logged gains.
The strong gains of the last two sessions have made investors richer by Rs 10.35 lakh crore as the cumulative market capitalisation of BSE listed firms has jumped to Rs 1,48,89,652.44 crore from Rs 1,38,54,439.41 crore on September 19. On September 23 alone, investors' wealth increased by Rs 3.52 lakh crore.
Story continues below Advertisement
According to the pivot charts, key support level for Nifty is placed at 11,482.73, followed by 11,365.27. If the index continues moving up, key resistance levels to watch out for are 11,706.23 and 11,812.27.The Nifty Bank closed with a robust gain of 5.47 percent at 30,566.20 on September 23. The important pivot level, which will act as crucial support for the index, is placed at 29,961.23, followed by 29,356.27. On the upside, key resistance levels are placed at 30,986.23 and 31406.27.
In an interview to CNBC-TV18, top market experts recommend which stocks to bet on for good returns:
Rajat Bose of rajatkbose.com
Buy Infosys at current level or any decline with stop loss below Rs 740 for targets of Rs 786 and Rs 802
Sell BPCL when it falls below Rs 455 with stop loss above Rs 464 and target of Rs 435.
Buy Motherson Sumi Systems with stop loss below Rs 108.50 with target of Rs 127
Story continues below Advertisement
Sudarshan Sukhani of s2analytics.com
Buy Indraprastha Gas with stop loss at Rs 350 and target of Rs 365
Buy SRF with stop loss at Rs 2850 and target of Rs 3200
Sell Power Grid with stop loss at Rs 191 and target of Rs 181
Sell Dabur India with stop loss at Rs 450 and target of Rs 430
Mitessh Thakkar of mitesshthakkar.com
Buy Bosch with a stop loss below Rs 14500 for target of Rs 15500
Buy IGL with a stop loss of Rs 348 and target of Rs 366
Sell Power Grid with a stop loss of Rs 192 and target of Rs 180
Buy Adani Power with a stop loss of Rs 64.4 and target of Rs 69.5
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.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
