We had a minor pull back in Nifty this week. Although the primary uptrend is still intact, the intermediate downtrend will be confirmed below 9710. On the other hand a closing above 9900 will re-establish bull’s grip on the index. In case Nifty breaks downward, its first major target will be 9500 regions.
We have been continuously reiterating our bullish opinion in this stock for quite a long time now. TVS Motors remained one of the leaders in outperformers this week. The stock can now be bought at CMP with stop loss at 560 & immediate target at 612.
Last week we saw a five year highest closing for Reliance Capital on Weekly basis. This stock within the NBFC sector is likely to rise even higher going forward. Keep the stop loss at 768 & buy above 795 for a target 830.
This energy stock also remained one of the outperformers for the last couple of weeks & looks poised for even higher prices from here. Buy above 1289, stop 1260, target 1320.
Yes Bank has been one of the outperformers in private banking sectors. Currently it is undergoing a pull back phase but once it moves beyond 1143 sometimes early next week, chances are high that the primary uptrend will resume and a target till 1840 will be within reach. Stop loss: 1710.
