Nifty in consolidation mode; short-term trend bullish, says Vinay Rajani

Century Textile and VIP Industries are the two stock recommendations by HDFC Securities

The NSE Nifty fell the second consecutive session to close at 17,362. This can be considered as a consolidation in an overall bullish trend. The Nifty is still maintaining its level above its 5, 10 and 20 days EMA, which indicates bullish trend for short term. Support for the Nifty is seen at 17,050 levels and traders can hold longs with that as a Stop Loss.

Stock recommendations:

Buy Century Textile (CMP: Rs 878) | Target: Rs 925 | Stop Loss: Rs 840

The stock has broken out from double top resistance of Rs 832 with rise in