The daily trend in Nifty & Bank Nifty continues to be positive since 3 days. Market still does not have a clear trend. Crude & Rupee have been the market drivers, which brings in lot of uncertainty to the stocks. The support for the day is seen at 10570 while resistance is seen at 10680. A decisive break of 26000 would bring heavy weight banks like HDFC Bnk, Kotak Bank, etc. under pressure.
BUY MAH & MAH
CMP : Rs 870.25
TARGET : Rs 950
STOP LOSS : Rs 840
The stock has made a higher bottom formation pattern in the daily chart and has indicated a decent upward movement with still further potential maintained for an upward rally from here on in the coming days. The indicators are favourable with a positive bias and also the stock has moved past the 34 WMA moving average and is poised for an up move. With good volume participation witnessed, we recommend a buy in this stock for an upside target of 950 keeping a stop loss of 840.
BUY FILATEX
CMP : Rs 220.40
TARGET : Rs 248
STOP LOSS : Rs 205
The stock has made a good revival taking support at 186 which was at the significant 200 DMA levels and also a move past the 34 WMA has improved the sentiment with a positive bias and we anticipate the stock to rise still further in the coming days. A move past the level of 228 would bring about a breakout and can see fresh upside targets and with good volume activity witnessed, we recommend a buy in this stock for an upside target of 248 keeping a stop loss of 205.
Disclaimer: The analyst may have positions in any or all the stocks mentioned above.
 "Markets, Buy, Sell, Stocks")