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Apr 21, 2017 10:59 AM IST | Source: Moneycontrol.com

Support for Bank Nifty at 21400; Axis Bank bearish play: Prakash Gaba

Prakash Gaba of prakashgaba.com is of the view that Nifty has support at 9100 and resistance at 9185-9225 while Bank Nifty has support at 21400 and resistance at 21650.

Prakash Gaba of prakashgaba.com

Key levels to watch out today

NIFTY (9136)        

Support: 9100

Resistance: 9185-9225

BANK NIFTY (21449)

Support: 21400

Resistance: 21650

STOCKS

Bullish Plays

Century Plyboards: Bounce from support

Target: Rs 270

Stop loss: Rs 258

Manappuram Finance: Breakout

Target: Rs 101

Stop loss: Rs 95

Syndicate Bank: Base Formation

Target: Rs 75

Stop loss: Rs 71

Bearish Plays

Axis Bank: Breakdown

Target: Rs 480

Stop loss: Rs 492

"Hindustan Unilever (HUL) looks good, it can climb to levels closer to Rs 930, keep stop loss below Rs 915. Dalmia Bharat is another stock that is looking good, it has taken a strong support around Rs 2,050 zones and perhaps climbing to levels closer to around Rs 2,200. The stock may take a day or two for that."

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