Nifty and Bank Nifty have their trend of all periodicity up with Nifty sustaining well above the 200-day moving average (DMA), however, it needs to cross the hurdle of 10,950 levels to surge higher. Support for the day is seen at 35,875/10,810 while resistance is seen at 36,260/10,925. Bank Nifty would have a range of 26,950-27,370 levels. Metal sector has got in to momentum along with pharma, however, we still need to watch for a few more days for confirmation and consistency.
The stock has been consolidating around the range of Rs 600 and Rs 630 levels for quite some time and now it has given a breakout with decent volume. The relative strength index (RSI) indicator also has signaled a Buy by reversing its trend in the positive direction. We recommend a positional buy in this stock keeping a stop loss of Rs 595 for an upside target of Rs 680.
The stock has been consolidating for the past 7-8 days and has got a good support at around Rs 1,220 levels which is also where the 200-DMA lies. Now it has given a positive bullish candle and looks promising to give an upward move. The RSI indicator has recently given a trend reversal signaling a buy and with decent volume participation, we recommend a buy in this stock for an upside target of Rs 1,330 keeping a stop loss of Rs 1,200.
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Disclaimer: The analyst may have positions in any or all the stocks mentioned above.
 "Technology, stock markets")