The index which broke below 10,650 took support at its 13-day exponential moving average (DEMA) to close at 10,618, down 61.40 points.
It opened at 10,700.45 which was also the intraday high and bears pushed the index near its crucial support placed around 10,600 to hit an intraday low of 10,601.60.
According to Pivot charts, the key support level is placed at 10,579.7, followed by 10,541.2. If the index starts moving upwards, key resistance levels to watch out are 10,678.6 followed by 10,739.
The Nifty Bank index closed at 25,645.40, up 0.16 percent on Friday. The important Pivot level, which will act as crucial support for the index, is placed at 25,561.93, followed by 25,478.46. On the upside, key resistance levels are placed at 25,704.63, followed by 25,763.87.
Below are the top trading ideas by market experts which can give good returns today:
Dinesh Rohira of 5nance.com
Buy Crompton Greaves Consumer Electricals with target at Rs 270 and stop loss at Rs 230
Sell Orient Cement with target at Rs 129 and stop loss at Rs 143
Buy Just Dial with target at Rs 458 and stop loss at Rs 420
Rajat Bose of rajatkbose.com
Buy Havells India with stop loss below Rs 534 for targets of Rs 546 and Rs 553.
Buy Varun Beverages with stop loss below Rs 712.90 and targets are Rs 738 and Rs 750.
Sell Tata Elxsi on a minor intraday rally up to Rs 1172 with stop loss above Rs 1191 and targets are Rs 1125 and Rs 1090.
Sell Delta Corp with stop loss above Rs 247.25 and targets are Rs 242 and Rs 240.
Prakash Gaba of prakashgaba.com
Buy Apollo Hospitals with target at Rs 1130 and stop loss at Rs 1090
Buy GAIL India with target at Rs 337 and stop loss at Rs 325
Sell Bank of Baroda with target at Rs 135 and stop loss at Rs 145
Sell JSW Energy with target at Rs 72 and stop loss at Rs 78
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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