Strong support for Nifty at 9968: 4 stocks to buy, sell today: Prakash Gaba

The Nifty50 closed marginally above its crucial support of 10,000 on Thursday. The index slipped over 80 points from its opening level to touch its intraday low of 9998.25 which made a slightly long lower shadow. The index bounced back from its 10-days exponential moving average placed at 10,010 to close at 10,013, down 67 points.

According to Technical Analyst Prakash Gaba of prakashgaba.com, the larger trend is still intact up however some slide is not rule out and there exists a strong support at 9968. The crucial support for the Nifty is at 10000-9968 and the resistance is at 10149-10260-10536. Bank Nifty has support at 24492 and resistance at 25000.

Bata India: Breakout | Rating: Buy | Target: Rs 650, stop loss: Rs 605

Fortis Healthcare: Base Formation | Rating: Buy | Target: Rs 174, stop loss: Rs 157

Can Fin Homes: Breakdown | Rating: Sell | Target: Rs 2900, stop loss: Rs 3050

DLF: Indicator Sell | Rating: Sell | Target: Rs 183, stop loss: Rs 193

"Dr Reddy's Laboratories looks weak to me and the way it is trading, the stock can slide down to levels close to Rs 2,100 to Rs 2,000 zones, any rally till Rs 2,400 would be a shorting opportunity in DRL."

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