The 50-share NSE Nifty after opening at 11,056.90 extended gains to hit an intraday high of 11,071.35, but wiped out those gains in the morning trade itself to hit day's low of 10,999.75. It traded in a range of about 30 points for rest of the day but did not break previous day's intraday low of 10,999.65.
According to Pivot charts, the key support level is placed at 10,988.7, followed by 10,958.5. If the index starts moving upwards, key resistance levels to watch out are 11,060.2 and 11,101.5.
The Nifty Bank index closed at 26,935.95, down 90.6 points on Friday. The important Pivot level, which will act as crucial support for the index, is placed at 26,858.03, followed by 26,780.17. On the upside, key resistance levels are placed at 27,058.03, followed by 27,180.17.
Here are the top stock trading ideas which can give good returns in the near term:
Dinesh Rohira of 5nance.com
Buy Adani Enterprises with target at Rs 146 and stop loss at Rs 124
Buy Prabhat Dairy with target at Rs 158 and stop loss at Rs 135
Sell UPL with target at Rs 535 and stop loss at Rs 584
Rajesh Agarwal of AUM Capital
Buy Infosys with stop loss at Rs 1290 and target of Rs 1349
Buy Bajaj Finance with stop loss at Rs 2430 and target of Rs 2518
Buy Titan Company with stop loss at Rs 825 and target of Rs 855
Buy Escorts with stop loss at Rs 885 and target of Rs 935
Sell NCC with stop loss at Rs 94 and target of Rs 82Disclaimer
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