4 stocks to buy with Nifty at record highs; all eyes on RBI monetary policy

According to Prakash Gaba of prakashgaba.com, the trend is still up as long as 10000 holds. The crucial support for Nifty is at 10000 and the resistance is at 10149-10260-10536. On the other hand, bankers expect RBI to change its monetary stance and may even go for an aggressive rate cut.

August 02, 2017 / 08:05 IST

26 Aug, 2025 12:21

Volume

Todays L/H

The Nifty on Tuesday rose to a fresh record high of 10,128 in the last 30-minutes of trade making a bullish candle. The Index opened at 10,101.05 and slipped to an intraday low of 10,065.75. It gained momentum in the second half of the trading session which took the index to its record high of 10,128.60. The Nifty finally closed 37 points higher at 10,114.65.

The Nifty on Tuesday ended at 10,114.7. According to Pivot charts, the key support level for Nifty is placed at 10,077.46, followed by 10,040.23. If the index starts to move higher, key resistance levels to watch out are 10,140.26, followed by 10,165.83.

The Nifty Bank also ended at record closing high of 25122.8 on Tuesday. Important pivot level, which will act as crucial support for the index is placed at 25022.64 followed by 24922.47. On the upside, the key resistance level is 25201.24 followed by 25279.67.

With retail inflation receding to record low levels, the Reserve Bank is likely to cut the benchmark lending rate by at least 0.25 percent in its third bi-monthly monetary policy review on Wednesday, say experts and bankers.

Encouraged by significant price improvement, bankers expect RBI, which has kept rates on hold at 6.25 per cent for the fourth straight time citing risk to inflation, to change its monetary stance and may even go for an aggressive rate cut.