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Last Updated : Dec 05, 2016 11:25 AM IST | Source: Moneycontrol.com

Support for Bank Nifty at 18000; see break down in BPCL: Gaba

Prakash Gaba of prakashgaba.com is of the view that Nifty has support at 8000 and resistance at 8160 while Bank Nifty has support at 18000 and resistance at 18500.


Prakash Gaba of prakashgaba.com

Key levels to watch out today

Nifty (8087)        
 
Support: 8000
Resistance: 8160   
 
Bank Nifty (18248)
 
Support: 18000
Resistance: 18500
 
Stocks
 
Bearish plays
 
Arvind: Break down
Target: Rs 327
Stop loss: Rs 350     
 
Aurobindo Pharma: Indicator sell
Target: Rs 700
Stop loss: Rs 740     
 
BPCL: Break down
Target: Rs 595
Stop loss: Rs 620
 
Jubilant Food: Break down
Target: Rs 850
Stop loss: Rs 900

"Bajaj Auto could go up, very good chance that it can survive here, Rs 2,700 seems to be a strong support zone. If it goes up, maybe we can see a target closer to Rs 2,820. It is a safe trade, risk reward ratio is in our favour."

"Biocon looks weak, looks like it is coming down to levels closer to Rs 879, keep stop loss above Rs 920. It looks like a clear sell," he said.

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First Published on Dec 5, 2016 08:15 am
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