Nifty likely to open lower with crucial support at 10150; buy Sun Pharma, Tata Motors: Prakash Gaba
According to Technical Analyst Prakash Gaba of prakashgaba.com, the crucial support for the Nifty is at 10150 and the resistance is at 10315-10537. On the other hand, Bank Nifty has support at 25000 and resistance at 24534.
Moneycontrol News
The bulls charged on D-Street on the first day of Diwali week. The Nifty made a bullish candle for the third consecutive day in a row on Monday. It made a new record high as it broke out of trading range with buying across segments. The Nifty managed to close above 10200 mark after two and a half months.
The Nifty closed at 10,230.8 on Monday. According to Pivot charts, the key support level is placed at 10,189.6, followed by 10,148.4. If the index starts to move higher, key resistance levels to watch out are 10,257.5 and 10,284.2.
The Nifty Bank closed at 24,703.1. Important Pivot level, which will act as crucial support for the index, is placed at 24,520.23, followed by 24,337.37. On the upside, key resistance levels are 24,882.33, followed by 25,061.57.
The Nifty50 futures on the Singapore Stock Exchange were trading 20 points lower at 10261 indicating a flat to negative opening for the domestic market.
According to Technical Analyst Prakash Gaba of prakashgaba.com, the crucial support for the Nifty is at 10150 and the resistance is at 10315-10537. On the other hand, Bank Nifty has support at 25000 and resistance at 24534.
Below are the stocks which are top buys today:
Sun Pharmaceutical Industries: Indicator Buy | Rating: Buy | Target: Rs 570, stop loss: Rs 536
Tata Motors: Breakout | Rating: Buy | Target: Rs 450, stop loss: Rs 428
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