According to Technical Analyst Prakash Gaba of prakashgaba.com, any move above 9946 would propel the Nifty to 10041-10080 zones but looks like the Index is into a pause mode and so a dip is acceptable as long as 9850 holds.
The Nifty closed 26 points lower at 9888.70 on Thursday. According to Pivot charts, the key support level is placed at 9,865, followed by 9,841. If the index starts to move higher, key resistance levels to watch out are 9,929 and 9969.
The Nifty Bank closed 55 points lower at 24,058. Important Pivot level, which will act as crucial support for the index, is placed at 23,998, followed by 23,938. On the upside, key resistance levels are 24,153, followed by 24,248.
The Nifty50 futures on the Singapore Stock Exchange were trading 8.50 points higher at 9929 indicating a flat opening for the domestic market.
Below are the top stocks which are good buys today:
Bharat Financial Inclusion: Breakout | Rating: Buy | Target: Rs 990, stop loss: Rs 953
Century Textiles: Momentum Pull | Rating: Buy | Target: Rs 1310, stop loss: Rs 1260
Raymond: Base Formation | Rating: Buy | Target: Rs 870, stop loss: Rs 820
Tata Elxsi: Base Formation | Rating: Buy | Target: Rs 847, stop loss: Rs 810
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The Nifty Bank closed 55 points lower at 24,058. Important Pivot level, which will act as crucial support for the index, is placed at 23,998, followed by 23,938. On the upside, key resistance levels are 24,153, followed by 24,248.
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