Nifty (CMP: 11010)
Last week saw a phase of reduced volatility in Nifty where it kept within previous week’s range. However, in spite of these, Nifty is still trading above major moving averages like 50, 100 & 200 day denominations & it puts the odd in favor of the bulls. The outlook for next week remains bullish as long as it keeps above 10925 regions & this view will gain further confirmation if 11040 is conquered by the index sometimes next week.
Jubilant Food (CMP: 1481)
Riding on the strong fundamentals, Jubilant is surging ahead. The nature of the long term trend is steady & hence reliable. Short term support exists at 1450 regions and any pullback might be a good opportunity to go long in this FMCG stock.
Nestle (CMP: 10,348)
Although there was a recent weakness, yet this FMCG stock is an overwhelming out-performer in the longer term & the primary uptrend is significantly strong. Keep short term stoploss at 10200 & but Nestle on rise to 10420 regions for target 10700.
Bandhan Bank (CMP: 687)
We note this stock for its primary uptrend as well as the strong upward momentum. Past few weeks saw a routine pull back which was in fact a buying opportunity. Buy on pullback to 640 levels with stop loss at 610 (on closing basis) & target 700.
Infosys (CMP: 1348)
Large-cap IT sector is seeing a strong demand & Infosys is continuing in its primary uptrend. We recommend buying at CMP with stoploss at 1316 & target 1400.
