Indian markets extended gains after the Reserve Bank of India (RBI) announced a special liquidity facility of Rs 50,000 crore for mutual funds to calm investors jittery after the Franklin Templeton fiasco.
The Sensex closed the day 416 points, or 1.33 percent, higher at 31,743.08 and the Nifty settled 128 points, or 1.40 percent, up at 9,282.30.
According to pivot charts, the key support level for Nifty is placed at 9,229.4, followed by 9,176.5. If the index continues moving up, key resistance levels to watch out for are 9,356.15 and 9,430.
The Nifty Bank closed 2.52 percent higher at 20,081.15. The important pivot level, which will act as crucial support for the index, is placed at 19,877.66, followed by 19,674.13. On the upside, key resistance levels are placed at 20,254.77 and 20,428.33.
In an interview to CNBC-TV18, top market experts recommend which stocks to bet on for good returns:
Ashwani Gujral of ashwanigujral.com
Buy IndusInd Bank with a stop loss of Rs 400, target at Rs 425
Buy Axis Bank with a stop loss of Rs 420, target at Rs 445
Buy Pidilite Industries with a stop loss of Rs 1,520, target at Rs 1,580
Buy Piramal Enterprises a stop loss of Rs 895, target at Rs 940
Buy RBL Bank with a stop loss of Rs 112, target at Rs 124
Sudarshan Sukhani of s2analytics.com
Buy Pidilite Industries with a stop loss of Rs 1,510, target at Rs 1,600
Buy Bata India with a stop loss of Rs 1,250, target at Rs 1,350
Sell Mahindra & Mahindra with a stop loss of Rs 343, target at Rs 317
Sell LIC Housing Finance with a stop loss of Rs 265, target at Rs 240
Mitessh Thakkar of mitesshthakkar.com
Buy Mindtree with a stop loss of Rs 854, target of Rs 950
Buy Nestle with a stop loss of Rs 17,740, target of Rs 18,600
Buy RBL Bank with a stop loss of Rs 111, target of Rs 127
Sell Ramco Cements with a stop loss of Rs 534, target of Rs 505Disclaimer: 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.