Nifty has been consolidating at these levels, this being a truncated week, with near term resistance seen at 10600 and Bank Nifty too resisting on visiting the previous high of 25900. The support for the day is seen at 34940/10460 levels while the resistance is seen at 35220/10600 levels. BankNifty would have a range of 25330 - 25800 levels. As said earlier, the indices need to cross the crucial resistance levels for further fresh development.
The stock has taken support at the significant 200DMA moving average which was at 580 levels and thereafter a steady gradual rise with a positive candle recently has made the stock look attractive and has signified a positive bias with potential for further upward movement in the coming days. With good volume participation witnessed, we recommend a buy in this stock for an upside target of 710 keeping a stop loss of 625.
The stock has been consolidating for quite some time at around 155 levels steadily and gradually on the rise and currently has indicated a positive bullish candle pattern in the daily chart to signify strength and has potential to rise further in the coming days. The RSI has shown a trend reversal and has maintained a positive bias and with consistent volume activity seen, we recommend a buy in this stock for an upside target of 185 keeping a stop loss of 155.
Disclaimer: The analyst may have positions in any or all the stocks mentioned above.
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