Nifty to open on positive note; buy M&M Financial, Balkrishna Industries: Prakash Gaba

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26 Aug, 2025 12:21

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The Nifty opened at 10,364.90 and rose to an intraday high of 10,367.70. The bears finally took control of D-Street and pushed the index lower towards 10,300. It hit an intraday low of 10,323.95. The index negated the formation of higher highs – higher lows formation of the last five trading sessions and closed the day with loss of around 29 points.

The Nifty closed at 10,335.3 on Tuesday. According to Pivot charts, the key support level is placed at 10,316.97, followed by 10,298.63. If the index starts to move higher, key resistance levels to watch out are 10,360.67 and 10,386.03.

The Nifty Bank closed at 25,019.3 on Tuesday. Important Pivot level, which will act as a crucial support level for the index, is placed at 24,952.03, followed by 24,884.77. On the upside, key resistance levels are 25,082.63 and 25,145.96.

The Nifty50 futures on the Singapore Stock Exchange were trading 38.50 points higher at 10417 indicating a positive opening for the domestic market.

According 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 Nifty is at 10240-10180 and the resistance is at 10385. Bank Nifty on the other hand has support at 24800 and resistance at 25200.

Below are the stocks which are good buys today:

Balkrishna Industries: Momentum Pull | Rating: Buy | Target: Rs 1750, stop loss: Rs 1675

M&M Financial Services: Breakout | Rating: Buy | Target: Rs 445, stop loss: Rs 425

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.