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The Nifty failed to hold 10,800-mark touched in the early trade and closed the volatile session lower but managed to hold its near term crucial support levels 10,701-10,726 on Thursday. The index made a 'Bearish Belt Hold' kind of pattern for the last three out of four consecutive sessions.
According to Pivot charts, the key support level is placed at 10,708.13, followed by 10,675.17. If the index starts moving upwards, key resistance levels to watch out are 10,791.83 and 10,842.57.
The Nifty Bank index closed at 26,496.9 on Thursday. The important Pivot level, which will act as crucial support for the index, is placed at 26,406.9, followed by 26,316.9. On the upside, key resistance levels are placed at 26,634.9, followed by 26,772.9.
Here are the top stock trading ideas which can give good returns in the near term:
Hadrien Mendonca of IIFL
Buy Glenmark Pharma with target at Rs 652 and stop loss at Rs 579
Buy M&M Financial Services with target at Rs 535 and stop loss at Rs 473
Buy Bata India with target at Rs 909 and stop loss at Rs 799
Rajesh Agarwal of AUM Capital
Buy Hindustan Petroleum Corporation with stop loss at Rs 309 and target of Rs 323
Buy Apollo Tyres with stop loss at Rs 269 and target of Rs 282
Buy Vedanta with stop loss at Rs 224 and target of Rs 236
Sell Pidilite Industries with stop loss at Rs 1060 and target of Rs 1013
Sell Titan Company with stop loss at Rs 885 and target of Rs 848
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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