Sensex settled 470 points, or 1.51 percent, down at 30,690.02, while Nifty ended 118 points, or 1.30 percent, down at 8,993.85 on April 13.
Prime Minister Narendra Modi on April 14 announced an extension in lockdown till May 3. Earlier the lockdown period was announced from March 25 till April 14.
Experts feel the extended lockdown will have an impact on the economy and earnings. Hence they expect some selling pressure to remain but overall the market will not have any major reaction during the extended lockdown period and will remain rangebound till the virus spread gets controlled.
According to the pivot charts, the key support level for Nifty is placed at 8,900.15, followed by 8,806.45. If the index starts moving up, key resistance levels to watch out for are 9,099.8 and 9,205.75.
In an interview to CNBC-TV18, top market experts recommend which stocks to bet on for good returns:
Ashwani Gujral of ashwanigujral.com
Buy Larsen & Toubro with a stop loss of Rs 850, target at Rs 900
Buy Hindalco with a stop loss of Rs 109, target at Rs 120
Buy Bharti Airtel with a stop loss of Rs 500, target at Rs 540
Buy Adani Ports with a stop loss of Rs 250, target at Rs 275
Buy IndusInd Bank with a stop loss of Rs 400, target at Rs 435
Sudarshan Sukhani of s2analytics.com
Buy UPL with a stop loss of Rs 315, target at Rs 340
Buy Pidilite Industries with a stop loss of Rs 1,340, target at Rs 1,420
Buy NMDC with a stop loss of Rs 80, target at Rs 88
Sell TVS Motor Company with a stop loss of Rs 305, target at Rs 275
Mitessh Thakkar of mitesshthakkar.com
Sell Bajaj Finserv with a stop loss of Rs 4,545, target at Rs 4,200
Buy Motherson Sumi with a stop loss of Rs 60, target at Rs 70
Buy Bandhan Bank with a stop loss of Rs 187, target at Rs 206
Disclaimer: The views and investment tips expressed by investment experts 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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