Oct 17, 2016 11:26 AM IST | Source:

Support for Nifty at 8480; see break out in BEML: Prakash Gaba

Nifty has support at 8480 and resistance at 8700 while Bank Nifty has support at 18500 and resistance at 19200-19300, says Prakash Gaba of

Prakash Gaba of

Key levels to watch out today

Nifty (8583)

Support: 8480
Resistance: 8700

Bank Nifty (19020)

Support: 18500
Resistance: 19200-300


Bullish plays

BEML: Break out
Target: Rs 960
Stop loss: Rs 920

Larsen & Toubro: Base formation
Target: Rs 1500
Stop loss: Rs 1450

L&T Finance: Break out
Target: Rs 105
Stop loss: Rs 96

SML Isuzu: Indicator buy
Target: Rs 1375
Stop loss: Rs 1300

"I will perhaps look at Axis Bank, it can climb to levels closer to around Rs 540-545 zones. It may take a day or two for that and stop loss below Rs 520-521 should be just fine."

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