Moneycontrol
Nov 10, 2017 08:02 AM IST | Source: Moneycontrol.com

Nifty likely to open gap down; 4 top stocks to buy or sell for good returns: Prakash Gaba

According to Technical Analyst Prakash Gaba of prakashgaba.com, for the Nifty 10380-400 is still a stiff resistance to deal with and down side from 10240 to 10184 is still a possibility. The crucial support for the Nifty is at 10240-10184 and the resistance is at 10380-10400. Bank Nifty on the other hand has support at 25100 and resistance at 25500.

 
 
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The Nifty opened at 10,358 rose marginally to intraday high of 10,368.45 before closing the day just above its crucial psychological support level of 10,300 at 10,308.

According to Pivot charts, the key support level is placed at 10,261.17, followed by 10,213.33. If the index starts to move higher, key resistance levels to watch out are 10,362.67 and 10,416.33.

Nifty Bank closed at 25,291.3 on Thursday. Important Pivot level, which will act as crucial support for the index, is placed at 25,176.6, followed by 25,061.9. On the upside, key resistance level is 25,395.6 followed by 25,499.9.

The Nifty50 futures on the Singapore Stock Exchange were trading 55 points lower at 10322 indicating a negative opening for the domestic market.

According to Technical Analyst Prakash Gaba of prakashgaba.com, for the Nifty 10380-400 is still a stiff resistance to deal with and down side from 10240 to 10184 is still a possibility. The crucial support for the Nifty is at 10240-10184 and the resistance is at 10380-10400. Bank Nifty on the other hand has support at 25100 and resistance at 25500.

Below are the stocks which are good buys and sell today:

Amara Raja Batteries: Breakout | Rating: Buy | Target: Rs 770, stop loss: Rs 710

CESC: Indicator Buy | Rating: Buy | Target: Rs 1040, stop loss: Rs 995

Indiabulls Housing Finance: Base Formation | Rating: Buy | Target: Rs 1300, stop loss: Rs 1200

Chennai Petroleum: Exhaustion | Rating: Sell | Target: Rs 420, stop loss: Rs 458

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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