Nifty declined 175 points or 1.76% this week. During the week it made a low at 9687 regions, barely honoring the August low. The intermediate trend will turn down only upon violation of this low. On the other hand, a closing above 9960 will revive the primary uptrend & alley the fears of a long term correction.
The old warhorse & the all time favorite stock of ours actually saw a nifty gain amidst a general weakness across the street. Thanks to Friday’s surprising strength, TVS Motors remain in our shopping list with a stop loss of 636 on closing basis with target 690.
Indraprastha Gas is one of the most consistently upward trending stock of the present time & there is a strong probability that the stock will continue it’s ascend in near future. One could buy at CMP with stop loss at 1400 & target 1600.
This stock has been making lower lows steadily & we expect the weakness to continue for some more times. Sell on rise to 683 regions with stop loss at 695, target 655.
This NBFC stock has been in a very strong uptrend & the recent weakness in Index was not able to mar its long term bullishness. We recommend buying L&T Fin Holding at CMP with stop loss at 188 (on closing basis) & target 212.
