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Last Updated : Dec 19, 2016 10:28 AM IST | Source:

Resistance for Nifty at 8250; buy Biocon: Prakash Gaba

Nifty has support at 8050 and resistance at 8250 while Bank Nifty has support at 18000 and resistance at 18700, says Prakash Gaba of

Prakash Gaba of

Key levels to watch out today

Nifty (8139)        
Support: 8050
Resistance: 8250                  
Bank Nifty (18313)
Support: 18000
Resistance: 18700
Bullish plays
Biocon: Indicator buy
Target: Rs 1020
Stop loss: Rs 957     
Page Industries: Break out
Target: Rs 14500
Stop loss: Rs 13750
Bearish plays
Target: Rs 120
Stop loss: Rs 124
Federal Bank: Break down
Target: Rs 67
Stop loss: Rs 70

"I have two sells. Asian Paints looks weak to me. It can slide down to levels closer to around Rs 875, keep stop loss above Rs 906." 

"BHEL is another sell. Possible target on the downside is around Rs 120 zones and stop loss above Rs 123." 

"I had a buy on Quess Corp but that has achieved the target. So, I will skip that. However, go instead for Ashok Leyland. That looks good to me. I think it can climb to levels closer to Rs 80, keep stop loss at Rs 77."

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First Published on Dec 19, 2016 07:57 am
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