Nifty likely to open on positive note; top 4 stocks to buy, sell today: Prakash Gaba

The Nifty index which opened at 10,440.50 rose marginally to 10,453 but then bears took control of D-Street and pulled the index towards its intraday low of 10,412.55. The index closed 16 points lower at 10,423.80.

According to Pivot charts, the key support level is placed at 10,406.53, followed by 10,389.27. If the index starts to move higher, key resistance levels to watch out are 10,447.03 and 10,470.27.

The Nifty Bank closed at 25,427.3 on Thursday. Important Pivot level, which will act as a crucial support level for the index, is placed at 25,355.6, followed by 25,283.9. On the upside, key resistance levels are 25,548.9 and 25,670.5.

The Nifty50 futures on the Singapore Stock Exchange were trading 10 points higher at 10465 indicating a flat to positive opening for the domestic market.

According to Technical Analyst Prakash Gaba of prakashgaba.com, the crucial support for the Nifty is at 10385-10240 and the resistance is at 10486-500. On the other hand, Bank Nifty has support at 25324 and resistance at 25650.

Aurobindo Pharma: Breakout | Rating: Buy | Target: Rs 820, stop loss: Rs 770

Rural Electrification Corporation: Momentum Pull | Rating: Buy | Target: Rs 190, stop loss: Rs 174

SRF: Breakout | Rating: Buy | Target: Rs 1800, stop loss: Rs 1700

Federal Bank: Indicator Sell | Rating: Sell | Target: Rs 114, stop loss: Rs 121

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