Top buy & sell ideas by Sudarshan Sukhani, Mitessh Thakkar, Prakash Gaba for short term

The Nifty50 opened with a gap up at 10,808.45 and hit an intraday high of 10,809.60 but it could sustain those levels for long and immediately turned volatile on Thursday. After the tussle between bulls-bears, the index finally drifted lower in the last couple of hours of trade and fell below 10,750 levels. It closed down 30.90 points at 10,741.10.

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.

Buy Tata Elxsi with a stoploss of Rs 1,310 and target of Rs 1,350

Buy Hindustan Petroleum Corporation with a stoploss at Rs 312 and target price of Rs 327

Buy ICICI Bank with a stoploss at Rs 294 and target price of Rs 306

Sell BEML with a stoploss at Rs 870 and target price of Rs 825

Sell NBCC with a stoploss at Rs 84 and target price of Rs 80

Sell L&T Finance Holdings with a stoploss of Rs 164.25 and target price of Rs 154

Buy ICICI Bank with a stoploss of Rs 292.9 and target price of Rs 310

Sell Kajaria Ceramics with a stoploss at Rs 518 and target price at Rs 485

Buy Reliance Industries with a stoploss at Rs 1,013 and target price of Rs 1,065

Sell Axis Bank with a stoploss at Rs 520.5 and target price of Rs 500

Sell Bajaj Auto with a target price of Rs 2,790 and stoploss at Rs 2,855

Sell Pidilite Industries with a target price at Rs 1,000 and stoploss at Rs 1,051

Sell Tech Mahindra with a target price at Rs 672 and stoploss at Rs 691

Sell Wockhardt with a target price at Rs 660 and stoploss at Rs 690