Nifty (CMP: 10605)
Last week saw a failed attempt on part of Nifty to violate 10400 downward but it consequently recovered all losses and in fact closed 9 points higher on weekly basis. Nifty is now trading above all major moving averages like 50, 100 & 200 day denominations.
With this, the weekly chart forms a hammer-like candle formation which suggests that chances are high that an intermediate bottom has been made in Nifty and we are not expecting to violate 10400 in near future. This view will gain further confirmation if 10660 followed 10710 are subsequently conquered by the index next week.
Hind Unilever (CMP: 1575)
Riding on the strong fundamentals, Hindustan Unilever 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 1550 regions and any pullback might be a good opportunity to go long in this FMCG stock.
Cholamandalam Finance (CMP: 1507)
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 1465 & buy Chola above 1520.
HDFC Bank (CMP: 2008)
We like this stock for its tremendously strong long-term primary uptrend. Past week saw a significant pull back followed by recovery. Buy on pull back to 1980 regions with stop loss at 1910 & target 2100
Mah & Mah (CMP: 857)
Auto sector is seeing a strong demand & Mahindra & Mahindra is continuing in its primary uptrend. We recommend buying at CMP with stoploss at 830 & target 900.
