After opening on a negative note, Nifty fell to make a low of 5372.20 and then it rose to make a high of 5353.45 yesterday. At last the session ended by giving a 30 months higher closing at 5441.95 of Nifty. It had a net gain of 42.60 points or 0.79% over the previous day’s close. The strength was across the board and Metal, Auto, Realty and Consumer Durable stocks are on the buyers’ radar.
Technically, Nifty is consolidating in the range of 5350 and 5460 with positive trend. Some buying interest was witnessed across the board towards yesterday’s closing season. As a result the bulls were able to manage Nifty above 5440. Yesterday’s volumes were also higher than the previous day’s volume. So it is expected that the current rally might take Nifty to 5530. However a breach of 5350 would be treated as a failure of current rally and in that case Nifty may go down to 5260.
FOR TODAY:
RECO FROM FAIRWEALTH SECURITIES: :
Buy Tata Motors above Rs 842 for target of Rs 850-860 and stop loss of Rs 834.
Sell Tech Mahindra below Rs 746 for target of Rs 739-730 and stop loss of Rs 753.Buy JP Associates around Rs 130 for target of Rs 132-134-136 and stop loss of Rs 128.
FUNDAMENTAL CALL FROM DIFFERENT BROKING HOUSES:
Prabhudas Lilladher recommends `Accumulate` on Bajaj Auto with a target of Rs. 2,704 as against CMP of Rs 2,490
Kotak Securities recommends `Reduce` on Transport Corp with a target of Rs 85 as against CMP of Rs 70
ICICI Securities recommends `Add` on Yes Bank with a target of Rs 316 as against CMP of Rs 300
No comments:
Post a Comment