The bygone week saw some increased volatility but no major changes on closing basis & the weight of evidence is still tilted in favor of the bulls. 9750 is an important make-or-break zone for the broader index & as long as it maintains above this mark, there is a possibility of resumption of intermediate uptrend.
This stock has been outperforming the broader index and even its peers within industry. Bajaj Finserv closed at yet another life high on Thursday & looking poised to conyinue in its bull run. We recommend buying @ CMP with stop loss at 5230 on closing basis.
Grasim is one of the most outperforming stocks in cement industry & the uptrend is pretty steady & strong. Last week it closed at life-high & thus outperformed the broader market. We recommend a positional long trade in Grasim @ CMP with stop loss at 1080 & target 1210.
Indiabulls Real Estate is one of the outperformers in its sector. It is currently undergoing a phase of pull back but looking at short term daily chart as well as the positive divergence in Stochastic (7,3,3), we can bet for a resumption of the bullish trend sometimes early next week. We recommend buying at CMP 230 with stop loss at 215 & target 255.
In spite of long protracted pull back in Voltas, we have reasons to believe that the primary uptrend is still valid for Voltas. In case it moves above 525 sometimes early next week, we recommend buying this stock with a stop loss at 515 & target for 545.
