The market closed March 15 session as well as the week on a strong note, with the BSE Sensex rising 269 points for the day and 1,353 points for the week to top the psychological 38,000 level.
Positive global cues on renewed optimism over a US-China trade deal and a buying interest in banking and financials lifted market sentiment.
The Nifty rallied 0.74 percent on March 15, and 3.5 percent for the week to form a bullish candle that resembles a spinning top formation on the daily charts and a robust bull candle on the weekly charts.
The broader markets turned mixed with Nifty Midcap index gaining 0.65 percent and the Smallcap index falling half a percent. Among sectors, the Nifty Bank was up 1.58 percent and IT index was up 1.88 percent.
related news Use dips to initiate fresh long positions; top 3 stocks which can return 10-28% The Moneycontrol Show | Estate planning, uniform driving licences, market strategies Top 7 stocks with upgraded ratings to buy in March, could return 7-29%
According to the Pivot charts, the key support level is placed at 11,369.4, followed by 11,312.0. If the index starts moving upward, key resistance levels to watch out are 11,485.6 and 11,544.4.
The Nifty Bank index closed at 29,381.45, up 458.35 points on March 15. The important Pivot level, which will act as crucial support for the index, is placed at 29,074.57, followed by 28,767.73. On the upside, key resistance levels are placed at 29,604.46, followed by 29,827.53.
In an interview to CNBC-TV18, top market experts recommend which stocks to bet on for good returns:
Sudarshan Sukhani of s2analytics.com
Buy Bajaj Auto with stop loss at Rs 2998 and target of Rs 3058
Buy HCL Tech with stop loss at Rs 1010 and target of Rs 1048
Buy HDFC Bank with stop loss at Rs 2238 and target of Rs 2275
Buy Shriram Transport with stop loss at Rs 1245 and target of Rs 1290
Sell Kajaria Ceramics with stop loss at Rs 581 and target of Rs 560
Mitessh Thakkar of mitesshthakkar.com
Buy Kotak Mahindra Bank with a stop loss below Rs 1300 and target of Rs 1370
Buy ONGC with a stop loss of Rs 153 and target of Rs 163
Sell Dabur India with a stop loss of Rs 431 and target of Rs 414
Buy ABB India with a stop loss of Rs 1282 and target of Rs 1348
Prakash Gabaof prakashgaba.com
Buy Bajaj Finance with target at Rs 2950 and stop loss at Rs 2825
Buy Infosys with target at Rs 740 and stop loss at Rs 713
Buy Maruti Suzuki with target at Rs 7275 and stop loss at Rs 7050
Buy UPL with target at Rs 940-950 and stop loss at Rs 910
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. First Published on Mar 18, 2019 08:09 am