Nifty Likely To Face Resistance At 10,350; 4 Stocks Which Can Give Up To 10% Return

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The strong reversal trend in the Nifty index from the last two trading sessions translates to a possible breakout from its short-term hurdles placed at 10,350 level and likely to trade near 10,400 level if its holds above 10,350 levelThe Nifty index witnessed a strong comeback after trading near its crucial support level placed at 10,040 zone and managed to close above its critical 20 & 50-days EMA level.

On the daily price chart, it made a strong bullish candlestick pattern coupled with index closing above its 20 & 50-day EMA indicating a shift in sentiment.

Further, the secondary momentum indicator suggests an uptick in trend with relative strength index (RSI) entering buy zone coupled with continued uptrend momentum depicted in the trend line

Based on the Fibonacci retracement, a major support is seen at 10,183 level followed by 10,089 level and immediate resistance will be seen at 10,350 level.

The strong reversal trend in the Nifty index from the last two trading sessions translates to a possible breakout from its short-term hurdles placed at 10,350 level and likely to trade near 10,400 level if its holds above 10,350 level.

However, it may also witness a weak support for the uptrend if it fails to close above this trend line

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