Top buy & sell ideas by Sudarshan Sukhani, Rahul Mohindar which are good near term bets

The Nifty50 closed tad below its crucial support placed at 10,680 which is also its 5-day exponential moving average (DEMA). The index opened at 10,720 and slipped to an intraday low of 10,647.45 to close 38 points lower at 10,679.

Formation of a bearish candle after a Bearish Belt Hold does not augur well for the bulls but as long as Nifty trades above 10,600 levels, bulls have nothing to fear, suggest experts. Investors can keep a stop below this level (10,600) for all the long positions.

According to Pivot charts, the key support level is placed at 10,644.6, followed by 10,609.5. If the index starts moving upwards, key resistance levels to watch out are 10,717.7 and 10,755.7.

The Nifty Bank index closed at 25,605.25, up 0.14 percent. The important Pivot level, which will act as crucial support for the index, is placed at 25,498.4, followed by 25,391.6. On the upside, key resistance levels are placed at 25,682.7, followed by 25,760.2.