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Nifty outlook
Nifty has been in the continuation of an uptrend and has been registering new all-time high on a daily basis. The index has been finding support on its 5-day EMA, which is currently placed at 15,680-odd levels. Momentum indicators are in favour of bulls and we expect Nifty to continue this upward journey even beyond 16,000.
Stock recommendations
Buy ONGC (Rs 125) | Target: Rs 135 | Stop-loss: Rs 120
Rationale: The stock price has formed rounding bottom formation on the daily charts. Volumes have gone up, along with the price. PSU and Oil-Gas sector have been outperforming
