you are here: HomeNewsBusiness

Nifty likely to open flat; buy Hero MotoCorp, GNFC: Prakash Gaba

Prakash Gaba of prakashgaba.com is of the view that crucial support for Nifty is at 10115 and the resistance is at 10211. Bank Nifty on the other hand has support at 24940 and resistance at 25200.

September 19, 2017 / 07:13 AM IST
 
 
live
  • bselive
  • nselive
Volume
Todays L/H
More

The Nifty opened with a gap on the higher side on Monday and created history in opening tick as the index surpassed its previous record high of 10,137. It witnessed sustained buying interest from bulls throughout the trading session, which took the index to its fresh all-time high of 10,171.70 and made a bullish candle on the daily candlestick charts.

According to Pivot charts, the key support level for Nifty is placed at 10,132.37, followed by 10,111.63. If the index starts to move higher, key resistance levels to watch out are 10,172.77, followed by 10,192.43.

The Nifty Bank closed at 25,046.9 on Monday. The important Pivot level which will act as crucial support for the index is placed at 24,957.37 followed by 24,867.83. On the upside, the key resistance level is 25,120.87, followed by 25,194.83.

The Nifty50 futures on the Singapore Stock Exchange were trading 10 points higher at 10104 indicating a flat opening for the domestic market.

According to Technical Analyst Prakash Gaba of prakashgaba.com, 10115 is a strong support and the next logical technical target is 10211. The crucial support for Nifty is at 10115 and the resistance is at 10211. Bank Nifty on the other hand has support at 24940 and resistance at 25200.

Close

Below are the stocks which are good buys today:

Gujarat Narmada Valley Fertilizers & Chemicals: Indicator Buy | Rating: Buy | Target: Rs 348, stop loss: Rs 325

Hero MotoCorp: Indicator Buy | Rating: Buy | Target: Rs 4050, stop loss: Rs 3900

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.

stay updated

Get Daily News on your Browser
Sections