Nifty (CMP: 10767)
Last week saw a volatile period in Nifty where both previous week’s high & low were briefly taken out but it did not put up any continued movement in either direction. But in spite of that we got a closing above previous week’s high and that, combined with the fact that Nifty is still trading above all major moving averages like 50, 100 & 200 day denominations put the odd in favor of the bulls. This view will gain further confirmation if 10820 are subsequently conquered by the index sometimes early next week.
United Breweries (CMP: 1227)
Riding on the strong fundamentals, United Breweries is surging ahead. The nature of the long term trend is steady & hence reliable. Short term support exists at 1155 regions and any pullback might be a good opportunity to go long in this FMCG stock.
(Sell) Tata Motors (CMP: 310)
Although there is a recent strength, yet this auto stock is a relative under-performer in the longer term & the primary downtrend trend is pretty strong. Keep short term stoploss at 315 & sell Tata Motors upon violating 304 for target 285.
Pfizer (CMP: 2628)
We like this stock for its tremendously strong long-term primary uptrend. Past week saw a routine pull back on Monday which was a buying opportunity. Buy on pull back to 2600 regions with stop loss at 2533 & target 2710.
KPIT Tech (CMP: 273)
Mid-cap IT sector is seeing a strong demand & KPIT Technologies is continuing in its primary uptrend. We recommend buying at CMP with stoploss at 260 & target 290.
