Thursday 15 February 2018

Nifty Likely To Start Above 10,550; Top 3 Stocks Which Could Give Up To 12% Return

Posted by suhani varma on Thursday, February 15, 2018 with No comments



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A break above 10,600 on Nifty could turn the tables in favour of the bulls while a close below 10,398 could extend the selling pressure, which could take the index towards 200-DMA.The Nifty50 is likely to open higher on Thursday tracking strong global cues. The index closed 38 points lower at 10,500.

The Nifty closed below its short-term moving averages of 5-day exponential moving average (DEMA) and 50-DEMA. A break above 10,600 could turn the tables in favour of the bulls while a close below 10,398 could extend the selling pressure, which could take the index towards 200-DMA.

According to Pivot charts, the key support level is placed at 10,441.57, followed by 10,382.23. If the index starts to move higher, key resistance levels to watch out are 10,575.37 and 10,649.83.

The Nifty Bank closed at 25,341.25, down 1.4 percent. Important Pivot level, which will act as crucial support for the index, is placed at 25,098.94, followed by 24,856.67. On the upside, key resistance levels are placed at 25,696.84, followed by 26,052.47.

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