The broader index maintained its winning streak for the 7th consecutive week & closed at yet another life high in the doorstep of 10900 odd levels. This is a liquidity driven rally where both the Foreign & Domestic Institutional Investors are pouring in money. Although stocks are in protracted overbought zones, we cannot recommend selling just as yet. 10680 is the first minor support zones for Nifty & the intermediate uptrend will reverse only upon closing below 10400. One can go long on in Nifty on weakness with these levels as stop loss.
This FMCG stock is showing pretty robust growth and a reliable primary uptrend. One can buy Dabur with stop loss at 355 by closing and target 380.
We had recommended this stock several times in past issues of this column & Tata Global is still going strong. Recently we spot another buying-in-weakness opportunity in this stock as a small pull back phase is nearing its exhaustion. Buy above 310 with stop loss 299 & target 328.
After a two-month consolidation, Yes Bank has broken out of its intermediate pull back phase & likely to resume the primary uptrend. One can buy this private Banking stock at CMP with stop loss at 330 & target 380.
After 3-Month consolidation forming a sort of rounding bottom on daily chart, IBul Housing Finance is resuming its intermediate uptrend and warrants buying on pullback with stop loss at 1210 & target 1410.
