The Finance Minister announced an economic package worth Rs 1.7 lakh crore under the ‘Prime Minister Gareeb Kalyan Scheme’ with an aim to protect the poor from the economic fallout of the lockdown.
Sensex closed the day 1,411 points, or 4.94 percent, at 29,946.77, while Nifty ended 324 points, or 3.89 percent, up at 8,641.45.
According to the pivot charts, the key support level is placed at 8,381.22, followed by 8,120.98. If the index continues moving upward, key resistance levels to watch out for are 8,825.37 and 9,009.28.
The Nifty Bank index closed at 19,613.90, up 6.13 percent. The important pivot level, which will act as crucial support for the index, is placed at 18,515.84, followed by 17,417.77. On the upside, key resistance levels are placed at 20,560.64 and 21,507.37.
In an interview to CNBC-TV18, top market experts recommend which stocks to bet on for good returns:
Ashwani Gujral of ashwanigujral.com
Buy Bajaj Auto with a stop loss of Rs 2,075, target at Rs 2,200
Buy L&T with a stop loss of Rs 830, target at Rs 855
Buy ICICI Bank with a stop loss of Rs 320, target at Rs 345
Buy HDFC Bank with a stop loss of Rs 875, target at Rs 950
Buy Ashok Leyland with a stop loss of Rs 38, target at Rs 50
Mitesh Thakkar of miteshthakkar.com
Buy Ashok Leyland with a stop loss of Rs 41.5, target at Rs 45
Buy Bharat Forge with a stop loss of Rs 279, target at Rs 294
Buy ITC with a stop loss of Rs 153, target at Rs 165
Buy ONGC with a stop loss of Rs 63.4, target at Rs 68
Prakash Gaba of prakashgaba.com
Buy Ashok Leyland with a stop loss of Rs 40, target of Rs 55
Buy Dabur with a stop loss of Rs 420, target of Rs 460
Sell Divi’s Labs with a stop loss of Rs 1,920, target of Rs 1,800
Sell HPCL with a stop loss of Rs 182, target of Rs 165
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.