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Oct 13, 2017 11:18 AM IST | Source: Moneycontrol.com

Nifty likely to open flat; 4 top stocks to buy for maximum returns: Prakash Gaba

According to Technical Analyst Prakash Gaba of prakashgaba.com, 10,000 has now become a crucial support to work with and the next logical technical target would be 10150-200 zones. The crucial support for the Nifty is at 10000 and the resistance is at 10150-10200. Bank Nifty on the other hand has support at 24200 and resistance at 24534.

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The bulls managed to regain control over D-Street on Thursday after closing in negative territory in the previous session. The index made a strong bull candle on the daily candlestick charts and closed above 10,000, which augers well for the bulls.

The Nifty closed at 10,096.4 on Thursday. According to Pivot charts, the key support level is placed at 10,014.17, followed by 9,931.93. If the index starts to move higher, key resistance levels to watch out are 10,141.57 and 10,186.73.

The Nifty Bank closed at 24,361.2. Important Pivot level, which will act as crucial support for the index, is placed at 24,095.27, followed by 23, 829.33. On the upside, key resistance levels are 24,510.27, followed by 24,659.33.

The Nifty50 futures on the Singapore Stock Exchange were trading 18 points lower at 10108 indicating a flat to negative opening for the domestic market.

According to Technical Analyst Prakash Gaba of prakashgaba.com, 10,000 has now become a crucial support to work with and the next logical technical target would be 10150-200 zones. The crucial support for the Nifty is at 10000 and the resistance is at 10150-10200. Bank Nifty on the other hand has support at 24200 and resistance at 24534.

Below are the stocks which are top buys today:

Axis Bank: Indicator Buy | Rating: Buy | Target: Rs 534, stop loss: Rs 518

Bharat Financial Inclusion: New High | Rating: Buy | Target: Rs 1020, stop loss: Rs 965

Engineers India: Base Formation | Rating: Buy | Target: Rs 157, stop loss: Rs 151

Titan Company: Breakout | Rating: Buy | Target: Rs 640, stop loss: Rs 614

"Cadila Healthcare looks okay. I think it is forming a good base, perhaps we can see a level closer to Rs 520 zones, keep stop loss below somewhere around Rs 490. I like Berger Paints, it looks good. Looks like it is heading to levels closer to Rs 270 zones, keep stop loss below Rs 255. I also like Hindustan Zinc. Looks like it is heading to Rs 324 zones."

"ICICI Bank is trying to form a base. One could take a punt here. Stop loss below levels of Rs 267 and possible target on the upside, purely a trading place is at Rs 273-275 zone."

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.

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