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Dec 08, 2017 08:03 AM IST | Source: Moneycontrol.com

Nifty likely top open on positive note; 4 top stocks to buy today: Prakash Gaba

According to Prakash Gaba of prakashgaba.com, some more upside is on the cards to 10221-10266 zones. The crucial support for the Nifty is at 10080-10013 and the resistance is at 10221-10266. Bank Nifty on the other hand has support at 24800 and resistance at 25200.

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The Nifty on Thursday, opened with a gap on the higher side and rose to an intraday high of 10,182. It slipped marginally to 10,061 in morning trade but bulls pulled the index to 10,150 levels. The index rose 122 points during the day to close at 10,166.

According to Pivot charts, the key support level is placed at 10,091.5, followed by 10,016.3. If the index starts to move higher, key resistance levels to watch out are 10,212.3 and 10,257.9.

The Nifty Bank closed at 25,057.2. Important Pivot level, which will act as crucial support for the index, is placed at 24,922.54, followed by 24,787.87. On the upside, key resistance levels are 25,144.64, followed by 25,232.07.

The Nifty50 futures on the Singapore Stock Exchange were trading 11 points higher at 10212 indicating a positive opening for the domestic market.

According to Prakash Gaba of prakashgaba.com, some more upside is on the cards to 10221-10266 zones. The crucial support for the Nifty is at 10080-10013 and the resistance is at 10221-10266. Bank Nifty on the other hand has support at 24800 and resistance at 25200.

Below are the stocks which are good buys today:

Adani Enterprises: Indicator Buy | Rating: Buy | Target: Rs 155, stop loss: Rs 143

Hindalco Industries: Short Covering | Rating: Buy | Target: Rs 245, stop loss: Rs 233

Larsen & Toubro: Short Covering | Rating: Buy | Target: Rs 1250, stop loss: Rs 1203

UPL: Indicator Buy | Rating: Buy | Target: Rs 750, stop loss: Rs 700

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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