Support for Bank Nifty at 22400; Reliance Capital, PFC bearish plays: Prakash Gaba

Prakash Gaba of prakashgaba.com

Key levels to watch out today

Nifty (9429)

Support: 9350

Resistance: 9500

Related stories

Prakash Gaba

Technical Analyst|prakashgaba.com

• 
  Nifty likely to open lower with support at 10,097; 2 stocks which are good sells in short term
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  Buy JSW Steel, LIC Housing Finance: Prakash Gaba
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  Short Bank of Baroda, Havells India: Prakash Gaba

Bank Nifty (22699)

Support: 22400

Resistance: 22800

Stocks

Bearish Plays

Allahabad Bank: Indicator Buy

Target: Rs 80

Stop loss: Rs 86

Power Finance Corporation: Base Formation

Target: Rs 152

Stop loss: Rs 158

Reliance Capital: Breakout

Target: Rs 635

Stop loss: Rs 667

Syndicate Bank: Base Formation

Target: Rs 82

Stop loss: Rs 89

"I have two longs and three sells. Infosys looks like a buy. It looks like there is support in lower regions. It can climb to levels closer to Rs 980, keep stop loss below Rs 950."

"Sun Pharmaceutical Industries from the pharma pack is looking okay, support at lower regions. It can climb to levels closer to Rs 668 zones, keep stop loss below Rs 645."

"Marico is looking good to me. It is heading to levels closer to Rs 325-330 zones. I think Rs 314 should be the stop loss."

"I also like Ashok Leyland. It looks like it is peaking up here. It can climb to levels closer to Rs 90. It may take couple of days for that; Rs 85-86 seems to be strong support zone for Ashok Leyland.""