DSIJ Mindshare

In the coming session, the level 10,630-10,650 will be the key level to watch as Nifty holding above this level would open positive options. Else, the index would correct towards the level of 10,540, which is its 21-day EMA. Stocks in the news: J Kumar Infraprojects, Peninsula Land, Emami, BASF, Tata Motors, Cera sanitaryware, Lanco Infratech, Fortis Healthcare and Tirumalai Chemicals.

In the coming session, the level of 10,630 would act as a strong short term support for the index and, on the higher side, the level of 10,780-10,800 is likely to act as a strong resistance. Stocks in the news: Biocon, Lemon Tree Hotels, Infosys, Cadila Healthcare, Power Grid, Techno Electric, Kridhan Infra, Sical Logistics, Infibeam Corporation and Adani Transmission.

Going ahead, a decisive move above Monday’s high of 10,759 could take Nifty towards the level of 10,800, where it may face resistance. Stocks in the news: Grasim, Power Grid, BHEL, Mahindra Lifespaces, L&T, Godrej Properties, GAIL, Maithan Alloys and Fortis Healthcare.

A decisive move above Friday’s session high of 10,720 could see the index testing levels of 10,800. Stocks in the news: Wockhardt, Dilip Buildcon, Axis Bank, Adani Ports, Shalimar Paints, Interglobe Aviation, Indian Oil Corporation, Nitish Estates, Jagran Praskashan and PC Jeweller.

For any fresh sustainable upmove to resume, Nifty will have to move past the level of 10,650 and sustain above that. Stocks in the news: Indian Energy Exchange, MOIL, Cyient, Essel Propack, Mangalore Chemical and Fertilizers, Thermax and Gati.