Nifty may face resistance at 9723; top 4 stocks to buy in rangebound market: Gaba

June 08, 2017 / 09:21 IST

26 Aug, 2025 12:21

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The Nifty closed 26 points higher or 0.28 percent at 9,663.90. According to Pivot charts, the key support level for Nifty50 is placed at 9,608, followed by 9,579. If the index starts to move higher then key resistance levels to watch out are 9,687, followed by 9,738. If the index starts to move higher then key resistance levels to watch out are 9,687, followed by 9,738.

Nifty Bank closed 151 points higher or 0.65 percent at 23,567 on Wednesday. Important Pivot level which will act as crucial support for the index is placed at 23,465 followed by 23,423. On the upside, the key resistance level is 23,602 followed by 23,644.

According to Technical Analyst, Prakash Gaba of prakashgaba.com, support for Nifty is placed at 9630-9580 while the Index may face resistance at 9723. On the other hand Bank Nifty may find support at 23400 while the Index may face resistance at 23900.

"Technically, 9713 is within reach as long as 9630 hold and the Nifty unfolded as expected and has managed to close above the crucial support of 9630, seen the low at 9630 like a dot and has closed in the green. Technically, now 9630 all the more crucial support to work with and is the first line of defense. The next logical target would be 9724 ," he said.

Below are some of the stocks which Prakash Gaba is bullish on: