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Its yet another life-high closing for Nifty last week. The liquidity driven rally is continuing unabated & the market breadth continues to remain very healthy. Trends in all timeframes are upward & immediate support on daily chart is seen only at 10335 levels. The short term uptrend shall reverse only upon violation of 10146.

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This auto major have been one of the star performers of the present bull run, rising more than 50% in the past 6 month alone. However, we find the current status of this stock slightly weak which presents a beautiful buying opportunity. One could enter long in Ashok Leyland at or above 125.50 with stop loss at 123 & target 130.

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The consistent primary uptrend is intermittently paused several times in recent past presenting some good buying opportunities in Vakrangee. The current weakness also happens to be a low risk buying opportunity for this IT scrip. Buy above 544, stop 525, target 574.

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The metal sector is currently going through a major bull phase & Tata Steel happens to be one of the leaders in this sector. One could enter long into this stock above 717 with stop loss at 696 & target 742.

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JSW Energy is on the verge of a major breakout on long term monthly chart while the weekly & daily charts also show significant demand. Buy JSW Energy above 84.50 with stop loss at 81 & target 89.



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