The Nifty opened at 10,757.90 rose marginally to an intraday high of 10,758.55. It slipped towards its crucial 5-days exponential moving average (DEMA) where it took support at 10,691 before bouncing back above 10,700 to close at 10,717.80.
India VIX moved up by 2.14 percent at 14.05. On the options front, maximum Put OI is placed at 10,500 followed by 10,600 strikes while maximum Call OI is placed at 11,000 followed by 10,800 strikes.
According to Pivot charts, key support level is placed at 10,685.3, followed by 10,652.8. If the index starts moving upwards, key resistance levels to watch out are 10,754.4 and 10,791.0.
The Nifty Bank index closed at 26,090.5. The important Pivot level, which will act as crucial support for the index, is placed at 25,991.33, followed by 25,892.17. On the upside, key resistance levels are placed at 26,152.93, followed by 26,215.37.
Here are the top stock trading ideas which can give good short gains:
Shitij Gandhi of SMC Global Securities
Buy Container Corporation of India with target at Rs 1,570 and stop loss at Rs 1,300
Buy Parag Milk Foods with target at Rs 353 and stop loss at Rs 292
Buy L&T Infotech with target at Rs 1,520 and stop loss at Rs 1,250
Prakash Gaba of prakashgaba.com
Buy CESC with target at Rs 1085 and stop loss at Rs 1055
Buuy Hindalco Industries with target at Rs 246 and stop loss at Rs 234
Buy Pidilite Industries with target at Rs 1125 and stop loss at Rs 1090
Buy SRF with target at Rs 2500 and stop loss at Rs 2340
Rajesh Agarwal of AUM Capital
Buy Indian Oil Corporation with stop loss at Rs 162 and target at Rs 173
Buy Arvind with stop loss at Rs 412 and target at Rs 430
Buy State Bank of India with stop loss at Rs 245 and target at Rs 257
Buy J Kumar Infraprojects with stop loss at Rs 273 and target at Rs 293
Buy KEI Industries with stop loss at Rs 437 and target at Rs 455
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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