Live Markets »News & Advice»Technicals»Technicals Details
Technicals Details

Support for Nifty lies at 9,840, resistance at 9,930: Prabhudas Lilladher

Vaishali Parekh/Mumbai 06 Oct 17 | 08:08 AM

Photo: Shutterstock

Nifty outlook and few trading ideas by Vaishali Parekh, Research Analyst - Technical Research at Prabhudas Lilladher:

Related Stories

    No Related Stories Found
Widgets Magazine


Nifty has been facing a resistance at around 9940 levels which is also where the significant moving average of 34 WMA lies and we anticipate a lower top formation pattern is in the making in the daily chart.  However, Nifty is moving well within the range of 9,980 and 9,800 levels and only a decisive breach of 9,800 can bring in some correction. The support for the day lies at 9,840 whereas the resistance would be seen at 9,930 levels.


CMP: Rs 64.55      

TARGET: Rs 72     


The stock has made a higher bottom formation pattern in the daily chart with positive bias and is anticipated to rally further upward with potential and strength. The RSI indicator has indicated a trend reversal signaling a buy and also the MACD is showing a positive indication for an up move. With decent volume participation witnessed, we recommend a buy in this stock for an upside target of 72 keeping a stop loss of 58.


CMP: Rs 1,275.75      

TARGET: Rs 1,350     

STOP LOSS: Rs 1,220

The stock has made a higher bottom formation in the daily chart and is on a upward trending mode looking attractive for further still rally in the coming days. The RSI has shown a trend reversal and has signaled a buy in this stock indicating a positive bias with potential for further more upward move. With great volume participation seen, we recommend a buy in this stock for an upside target of 1350 keeping a stop loss of 1220. 


CMP: Rs 40.50      

TARGET: Rs 44.50    

STOP LOSS: Rs 38.20

The stock has corrected from the peak level of 44.40 to bottom out at 38.20 levels and has produced a positive candle pattern in the daily chart to indicate strength and potential to rise further in the coming days. The RSI also has shown a strong reversal to indicate a buy signal in the stock with positive bias. We anticipate a further rally upward and along with good volume activity seen, we recommend the stock for a buy for an upside target of 44.50 keeping a stop loss of 38.20

Disclaimer: The analyst may have positions in any or all the stocks mentioned above.

Widgets Magazine


Company Price Gain (%)
St Bk of India253.753.26
O N G C176.252.71
Axis Bank456.751.52
Tata Steel721.801.47


Given the current crisis at Infosys, what would your investment strategy in the company's stock be?

Online Portfolio

You can create Online Portfolio here using the below button.

Widgets Magazine