The Sensex closed the day with a gain of 1.17 percent at 32,114.52 and the Nifty settled 1.06 percent higher at 9,380.90.
The Nifty failed to hold on to the 9,400 level but closed near its strong opening levels and formed a Dragonfly Doji pattern on the daily charts.
According to pivot charts, the key support level for Nifty is placed at 9,292.47, followed by 9,204.03. If the index continues moving up, key resistance levels to watch out for are 9,436.87 and 9,492.83.
The Nifty Bank closed 2.94 percent up at 20,671.10. The important pivot level, which will act as crucial support for the index, is placed at 20,370.84, followed by 20,070.57. On the upside, key resistance levels are placed at 20,861.34 and 21,051.57.
In an interview to CNBC-TV18, top market experts recommend which stocks to bet on for good returns:
Ashwani Gujral of ashwanigujral.com
Buy Reliance Industries with a stop loss of Rs 1,400, target at Rs 1,465
Buy Bajaj Finance with a stop loss of Rs 2,200, target at Rs 2,340
Buy ICICI Bank with a stop loss of Rs 350, target at Rs 375
Sell Sun Pharma a stop loss of Rs 485, target at Rs 450
Sell Colgate Palmolive with a stop loss of Rs 1,525, target at Rs 1,460
Sudarshan Sukhani of s2analytics.com
Buy TCS with a stop loss of Rs 1,830, target at Rs 1,910
Buy ICICI Bank with a stop loss of Rs 350, target at Rs 370
Buy Adani Ports with a stop loss of Rs 268, target at Rs 280
Sell Coal India with a stop loss of Rs 140, target at Rs 130
Mitessh Thakkar of mitesshthakkar.com
Buy RCF with a stop loss of Rs 37.5, target of Rs 44
Buy Essel Propack with a stop loss of Rs 173, target of Rs 188
Buy Bajaj Finserv with a stop loss of Rs 4,700, target of Rs 5,200
Buy DLF with a stop loss of Rs 135, target of Rs 145
Disclosure: Reliance Industries Ltd. is the sole beneficiary of Independent Media Trust which controls Network18 Media & Investments Ltd.Disclaimer: 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.