The Nifty50 which started with a gap-up build up momentum in the second half of the trading session to reclaims its crucial 100-days exponential moving average (DEMA) placed around 10,410 on Monday. It made a strong bullish candle or Long White Day on the daily charts.
The Nifty50 which opened at 10,301 rose to an intraday high of 10,433. It slipped marginally to hit an intraday low of 10,295 but managed to close 194 points higher at 10,421.
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According to Pivot charts, the key support level is placed at 10,333.37, followed by 10,245.33. If the index starts to move higher, key resistance levels to watch out are 10,471.57 and 10,521.73.
The Nifty Bank closed at 24,664.2 on Monday. The important Pivot level, which will act as crucial support for the index, is placed at 24,443.1, followed by 24,222.0. On the upside, key resistance levels are placed at 24,800.7, followed by 24,937.2.
The Nifty futures on the Singaporean stock exchange were trading lower by around 14.5 points at 10,417, a fall of around 0.14 percent. This indicates that the domestic market is likely to open on a flat to negative note.
Moneycontrol.com has collated a list of trading ideas from top market experts which one can take cues for better returns:
Ashwani Gujral of ashwanigujral.com
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Buy Hexaware Tech with a stop loss of Rs 370, target of Rs 385
Buy Cholamandalam Investment with a stop loss of Rs 1400, target of Rs 1550
Buy NIIT Tech with a stop loss of Rs 890, target of Rs 945
Buy V-Guard Industries with a stop loss of Rs 234, target of Rs 248
Buy NCC with a stop loss of Rs 119, target of Rs 130
Buy Bank of Baroda with a stop loss of Rs 132, target of Rs 146
Buy Canara Bank with a stop loss of Rs 240, target of Rs 255
Buy State Bank of India with a stop loss of Rs 250, target of Rs 265
Mitessh Thakkar of miteshthacker.com
Buy Castrol India with a stop loss of Rs 203.50 and target of Rs 214
Buy Cholamandalam Investment with a stop loss of Rs 1427 and target of Rs 1485
Sell Godrej Industries below Rs 535 with stop loss of Rs 548 and target of Rs 512
Buy Infosys above Rs 1188 with stop loss of Rs 1166 and target of Rs 1225
Buy Kotak Mahindra Bank around Rs 1085 with target of Rs 1128
Buy Wipro with stop loss of Rs 292 and target of Rs 308
Buy UPL with stop loss of Rs 711 and target of Rs 750
Prakash Gaba of prakashgaba.com
Buy HCL Tech with target at Rs 1000 and stop loss at Rs 950
Buy HDFC with target at Rs 1900 and stop loss at Rs 1825
Disclaimer: The views and investment tips expressed by investment experts on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
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