As volatility subsidized a bit previous week, Nifty settled 24 points lower week-on-week basis. As a matter of fact, although the intermediate trend at present is negative yet the primary uptrend have not been broken as yet & a movement above 10640 will resume the short term bullishness in the index. Positional sell will be triggered below 10250 regions.
Unlike the broader market, large- and mid-cap IT stocks have not seen major sell off in the recent past & we see Infy in a buying position at present. Buy above 1142 with stop loss at 1106 & target 1200.
This FMCG scrip is looking to have completed an intermediate pull back & on the verge of resuming the primary uptrend. Buy above 345 with stop loss at 336, target 362.
L&T Technology Services is showing exemplary strength and going on making new higher bottoms at regular intervals. On Friday in fact, it closed at yet another life high and deserves buying. Buy on little pullback to 1365 regions with stop loss at 1280 & target 1500
This relatively new entrant to the capital market has shaken off its initial weakness & closed at a new 50-day high on Friday. Buy on decline to 695 with stop loss at 670 & target 740.