According to Prakash Gaba of prakashgaba.com, Nifty has support at 9540 and resistance at 9660-9713 while Bank Nifty has support at 23000 and resistance at 23500.
Prakash Gaba of prakashgaba.com
Key levels to watch out today
Bank Nifty (23183)
Mahindra & Mahindra: Indicator Buy
Target: Rs 1380
Stop loss: Rs 1346
NIIT Tech: Momentum Pull
Target: Rs 530
Stop loss: Rs 500
Target: Rs 80
Stop loss: Rs 86
Rural Electrification Corporation: Breakdown
Target: Rs 190
Stop loss: Rs 202
"Aurobindo Pharma is looking good to me and the way it is trading it looks like it is heading to levels closer to Rs 580 to Rs 590 zone. The bar that is generated today, it tells me that it has bottomed out and it is going up. We may get dips but those dips would be buying opportunity. The target that I have is between Rs 580 to Rs 600. It may take its own sweet time but it is a buy on dip stock."
"Divis Laboratories also looks good. It is purely a trading play. It can climb to levels closer to around Rs 590-600 zones. It may take a day or two for that, stop loss below Rs 560 should be fine," he added.
"A stock that is looking weak is NALCO. It looks like it can slide down to levels closer to Rs 66 first and then maybe Rs 65 in a day or two. Strong resistance at Rs 68 - that's the place I would stop and trade short.""I like Bata India. It has seen good bottom at Rs 530 zones, traded sideways. It is going up. The target that I have on Bata is around Rs 575-580 zone. It may take its own sweet time, dips can be bought and have a stop loss somewhere below the levels of Rs 540 and trade long."The Great Diwali Discount!
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