Nifty (CMP: 11278)
Last week saw a phase of increased volatility in Nifty where it closed at a new life high! The index is quite obviously trading above major moving averages like 50, 100 & 200 day denominations & it puts the odd in favor of continuation of the bullish trend. The outlook for next week remains bullish as long as it keeps above 10200-10150 regions as the previous resistance is expected to serve as support.
Dabur (CMP: 386)
Riding on the strong fundamentals, Dabur is surging ahead. The nature of the long term trend is steady & hence reliable. Short term support exists at 371 regions and any pullback might be a good opportunity to go long in this FMCG stock.
Godrej CP (CMP: 1308)
Although there is a recent weakness, yet this consumer goods stock is an overwhelming out-performer in the longer term & the primary uptrend is significantly strong. Keep short term stoploss at 1280 & buy Godrej CP on rise to 1228 regions for target 1300.
HDFC Bank (CMP: 2202)
We note this stock for its primary uptrend as well as the strong upward momentum. Past few sessions saw a routine pull back which was in fact a buying opportunity. Buy on pullback to 2190 levels with stop loss at 2162 (on closing basis) & target 2230.
TCS (CMP: 1943)
Large-cap IT sector is seeing a strong demand & TCS is continuing in its primary uptrend. We recommend buying at CMP with stoploss at 1910 & target 2000.
