Nifty likely to open on positive note; buy PTC India, Tata Global Beverage: Prakash Gaba
According to Technical Analyst Prakash Gaba of prakashgaba.com, the crucial support for the Nifty is at 10240-10180 and the resistance is at 10385-10486. Bank Nifty on the other hand has support at 24667 and resistance at 25000.
Moneycontrol News
The Nifty rose to a fresh record high of 10,366.15 but failed to hold on to momentum and closed below its opening level making a bearish candle on the daily candlestick charts on Friday.
The Nifty closed at 10,323.0 on Friday. According to Pivot charts, the key support level is placed at 10,300.8, followed by 10,278.6. If the index starts to move higher, key resistance levels to watch out are 10,355.7 and 10,388.4.
The Nifty Bank closed at 24,839.6 on Friday. Important Pivot level, which will act as a crucial support level for the index, is placed at 24,760.3, followed by 24,681.0. On the upside, key resistance levels are 24,957.3, followed by 25,075.
The Nifty50 futures on the Singapore Stock Exchange were trading 19 points higher at 10390 indicating a positive opening for the domestic market.
According to Technical Analyst Prakash Gaba of prakashgaba.com, the crucial support for the Nifty is at 10240-10180 and the resistance is at 10385-10486. Bank Nifty on the other hand has support at 24667 and resistance at 25000.
Below are the stocks which are good buys today:
PTC India: Breakout | Rating: Buy | Target: Rs 130, stop loss: Rs 120
Tata Global Beverage: Breakout | Rating: Buy | Target: Rs 230, stop loss: Rs 215
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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