Nifty (CMP: 11360)
Last week saw Nifty to close at another life high! Prices may be overbought, or running ahead of their fundamentals, but we are trend-followers & we trade in the direction of the trend. The index is quite obviously trading above major moving averages like 50, 100 & 200 day denominations & it puts the odd in favor of continuation of the bullish trend. The outlook for next week remains positive as long as it keeps above 10235-10200 regions as the previous resistance is expected to serve as support.
Jubl Food (CMP: 1451)
Riding on the strong fundamentals, Jubilant Foodworks is surging ahead. Previous few week saw some weakness in this scrip but the longer term uptrend is on the verge of recovery. The nature of the long term trend is steady & very reliable. Short term support exists at 1380 regions and any pullback might be a good opportunity to go long in this FMCG stock.
Asian Paints (CMP: 1411)
Although there is an ongoing weakness in this stock, yet this consumer goods major is an overwhelming out-performer in the longer term & the primary uptrend is significantly strong. Buy Asian Paints on dip to 1400 regions with stop loss at 1370 & target 1447.
Yes Bank (CMP: 373)
We note this stock for its primary uptrend as well as the strong upward momentum. Past few sessions saw a routine pull back which was in fact a buying opportunity. Friday’s price action suggests that the pull back might have been over & the stock is poised for higher prices. Buy at CMP with stop loss at 360 (on closing basis) & target 398.
Infosys (CMP: 1364)
Large-cap IT sector is seeing a strong demand & Infosys is continuing in its primary uptrend. We recommend buying at CMP with stoploss at 1330 & target 1420.