Nifty (CMP: 10596)
The last week saw a failed attempt on part of the Nifty to register fresh high. The index consequently clocked lower closing 4 days in a row.
Notwithstanding the bearish engulfing pattern on weekly chart, chances are high that an intermediate top has been made in Nifty and we are expecting lower prices ahead. Nearest support is seen at 10450 regions.
Dabur (CMP: 374)
Riding on the strong fundamentals, Dabur is surging ahead & making a new life high almost on regular intervals. The nature of the trend is steady & hence reliable. Short term support exists at 369 & 364 regions and any pullback might be a good opportunity to go long in this FMCG stock.
Magma Fincorp (CMP: 180.20)
Although there is a recent weakness, yet this NBFC stock is a relative outperformer in the longer term & the primary uptrend is pretty strong. Keep short term stoploss at 170 & buy Magma above 184.
Bajaj Finance (CMP: 2149)
We like this stock for its tremendously strong primary uptrend. Past week saw a new explosion as Bajaj Finance scaled new high, thanks to its strong quarterly numbers. Buy on pull back to 2080 regions with stop loss at 2010 & target 2200
Indusind Bank (CMP: 1930)
Private Banking sector is seeing a strong demand & Indusind Bank is continuing in its primary uptrend. We recommend buying at CMP with stoploss at 1900 & target 1990.