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Resistance for Nifty at 10349; buy Max Financial, NHPC: Prakash Gaba

Technically the trend is till up and it climb up then the next logical target would be 10349 as long as 10299 holds, says Prakash Gaba.

December 12, 2017 / 09:09 AM IST

Technical Analyst, Prakash Gaba:

The 50-share NSE Nifty, which started on a buoyant note on Monday, reclaimed the 10,300 level in the opening tick but failed to build on the momentum, witnessing wild swings on either side.

The bulls took control and pulled the index back above 10,300 towards the closing trade. The Nifty50 finally ended 56 points higher at 10,322 on Monday.

The Nifty opened with a bang on Monday and saw the high to stop at the resistance of 10329 like a dot and closed in the green, said Prakash Gaba.

Technically the trend is till up and it climb up then the next logical target would be 10349 as long as 10299 holds.

Close

The crucial support for the Nifty is at 10299 and the resistance is at 10349, he added.

Bank Nifty has support at 25518 and resistance at 25300.

Below is the stocks which is good trades today:

Max Financial Services | Indicator Buy | Target: Rs 575 | Stoploss Rs 545

NHPC | Breakout | Target Rs 30 | Stoploss Rs 28.50

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Tags: #technical
first published: Dec 12, 2017 09:09 am
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