Nifty has been consolidating at these levels with a positive bias as long as 10120 levels hold as crucial support level. The support for the day is seen at 10150 while resistance is seen at 10250.
BUY BANK OF INDIA CMP : 141 TARGET : 150 STOP LOSS : 135
The stock has made a double bottom formation in the daily chart and is now regaining for an up move to retrace to its previous high levels. The RSI indicator has made a positive trend reversal also signaling a buy and with good volume participation, we recommend a buy in this stock for an upside target of 150 keeping a stop loss of 135
BUY ICICI BANK CMP : 266 TARGET : 290 STOP LOSS : 245
The stock has made a dip from the peak level of around 315 to 255 and has now indicated a reversal in the RSI pattern. A positive candle pattern is visible and we anticipate the stock to move on further in the upward direction to scale around 290 levels in the coming days. With improving volume participation, we recommend a buy in this stock for an upside target of 290 keeping a stop loss of 245.
BUY KESAR PETRO CMP : 67 TARGET : 80 STOP LOSS : 60
After making a peak of 75 recently, the stock has witnessed a small dip and is now taking a support around 62 levels gathering potential and strength with rising volume participation. The positive candle created now has signified further strength to rise upward and with also RSI reversing its trend to signal a buy, we recommend a buy in this stock for an upside target of 80 keeping a stop loss of 60
Note: All prices are in Rs.
The author is a senior analyst for technical research at Prabhudas Lilladher.
Disclaimer: The analyst may have positions in any or all the stocks mentioned above.