Nifty (CMP: 10130)
Nifty finally dipped below its 200 day average and stayed there for four consecutive sessions, before pulling back on Monday. This pull back is continuing on Tuesday morning as well & presents a good selling opportunity. This sell signal is a function of waning momentum, however, we are expecting significant resistances in the zones of 10230-‘250 region.
TV18 Broadcast (CMP: 67)
This media stock was relatively unharmed in recent bloodbath in the market, which qualifies it as a relative outperformer & consequently, a buying candidate. Buy on decline to 65 with stop loss at 61 & target 70.
(Escorts (CMP: 806)
This agri-sector stock is in a primary uptrend, but currently showing an intermediate pull back as represented by the downward trendline in the adjoined diagram. Once this trendline is decisively broken upward, odds are high that the previous uptrend will be resumed. Buy above 815, stop 795, target 840.
KPIT Tech (CMP: 220)
We had mentioned of KPIT several times in our past issues of this column. The stock continues to enthrall us and remains relatively insulated to the overall weakness in the market. Buy above 223, stop 217, target 236.
Cholamandalam Finance (CMP: 1437)
This NBFC stock also happens to be one of the relative outperformers which saw little selling in recent period. Buy above 1460 with stop loss at 1420, for target 1530.
