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May 15, 2017 11:23 AM IST | Source: Moneycontrol.com

Resistance for bank Nifty at 22850; Tech Mahindra, Cipla bullish plays: Prakash Gaba

According to Prakash Gaba of prakashgaba.com, Nifty has support at 9340 and resistance at 9500 while Bank Nifty has support at 22500 and resistance at 22850.

Prakash Gaba of prakashgaba.com

Key levels to watch out today

Nifty (9401)

Support: 9340

Resistance: 9500

Bank Nifty (22672)

Support: 22500

Resistance: 22850

Stocks

Bullish Plays

Cipla: Breakout

Target: Rs 575

Stop loss: Rs 564

Dhanuka Agritech: Breakout

Target: Rs 940

Stop loss: Rs 900

Tech Mahindra: Indicator Buy

Target: Rs 453

Stop loss: Rs 438

Wonderla Holidays: Breakout

Target: Rs 402

Stop loss: Rs 385

"I will start with Aditya Birla Nuvo. That looks good to me. We can see a climb to maybe around Rs 1,760. It may take a day or two for that, stop below Rs 1,680 on Aditya Birla NUvo should be fine."

"I also like Engineers India (EIL). Looks like it can climb to level closer to Rs 174, again, a day or two for this, keep stop loss below Rs 166."

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