Nifty likely to open lower; buy CG Power, Hindalco Industries: Prakash Gaba

Acccording to Technical Analyst Prakash Gaba of prakashgaba,com, for the Nifty, 10385 becomes a stiff resistance and downside to 10240 is a possibility. The crucial support for the index is at 10240-10180 and the resistance is at 10486-500. Bank Nifty on the other hand has support at 25200 and resistance at 25800.

November 02, 2017 / 08:23 IST

26 Aug, 2025 12:21

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Todays L/H

The Nifty, which started with a gap on the higher side on Wednesday, held on to the momentum and hit a fresh record high of 10,451.65. The index rose to a record high led by gains in financials which contributed nearly 80 percent of the Nifty gains. The Nifty Bank hit an intraday high after 3 months.

The Nifty closed at 10,440.5 on Wednesday. According to Pivot charts, the key support level is placed at 10,398.43, followed by 10,356.37. If the index starts to move higher, key resistance levels to watch out are 10,467.13 and 10,493.77.

The Nifty Bank closed at 25,490.4 on Wednesday. Important Pivot level, which will act as a crucial support level for the index, is placed at 25,258.37, followed by 25,026.33. On the upside, key resistance levels are 25,635.87 and 25,781.33.

The Nifty50 futures on the Singapore Stock Exchange were trading 16.50 points lower at 10468.50 indicating a flat to negative opening for the domestic market.

Acccording to Technical Analyst Prakash Gaba of prakashgaba,com, for the Nifty, 10385 becomes a stiff resistance and downside to 10240 is a possibility.