NIFTY VIEW:
Nifty after a short pause raced towards the 10,100 mark clearing the pessimism that was hovering in the minds of the market players a day before and now is near to retest the peak level of 10,178 and chances of giving a breakout cannot be ruled out. However, the support for the day is seen at 10,050 while resistance is seen at 10,140.
BUY GULSHAN POLY
CMP: Rs 85.85
TARGET: Rs 98
STOP LOSS: Rs 81
Also Read
The stock after making a double bottom formation in the daily chart has given a breakout above the previous peak of Rs 88.90 and has now maintained above the significant 200-DMA and is showing potential and strength for further rise in the coming days. The RSI has given a trend reversal recently and is on the rise signifying a positive bias in the stock. With good volume participation witnessed, we recommend a buy in this stock for an upside target of Rs 98 keeping a stop loss of Rs 81.
BUY BEL
CMP: Rs 169.35
TARGET: Rs 182
STOP LOSS: Rs 160
The stock has made a higher bottom formation in the daily chart and is gradually on the rise indicating a positive bias with potential to rise further and now with a positive candle indications are pretty good for a bounce from here on to scale the previous peak level of 181 and a breakout can be anticipated. With the RSI showing a positive rise with trend reversal, we recommend a buy in this stock for an upside target of Rs 182 keeping a stop loss of Rs 160.
BUY AXIS BANK
CMP: Rs 525.10
TARGET: Rs 560
STOP LOSS: Rs 505
The stock has been moving in the rangebound zone of Rs 480 and Rs 525, and has maintained above the significant 200-DMA. We anticipate a breakout above the 525 to scale fresh targets. The RSI indicator is on the rise and has shown a positive bias. With good volume activity witnessed, we recommend a buy in this stock for an upside target of Rs 560 keeping a stop loss of Rs 505.
Disclaimer: The analyst may have positions in any or all the stocks mentioned above.
One subscription. Two world-class reads.
Already subscribed? Log in
Subscribe to read the full story →*Subscribe to Business Standard digital and get complimentary access to The New York Times
Smart Quarterly
₹900
3 Months
₹300/Month
SAVE 25%
Smart Essential
₹2,700
1 Year
₹225/Month
SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months
Super Saver
₹3,900
2 Years
₹162/Month
Subscribe
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
SAVE 25%