Nifty view & stock recos by Anand Rathi: Buy Sonata Software, PNC Infra

Nifty is expected to bounce or retrace 50 per cent of the recent fall. Hence a bounce till 12,150 can't be ruled out.

NIFTY: BUY  | TGT: 12,150 | SL: 11,990

Nifty closed in the negative territory in the last trading session. It has, however, been forming a falling wedge pattern on the hourly charts which is a reversal pattern. The Index is expected to bounce or retrace 50 per cent of the recent fall. Hence a bounce till 12,150 can’t be ruled out.

SONATA SOFTWARE: BUY | TGT: Rs 360 | SL: Rs 328

The stock has been forming a symmetrical triangular pattern and it is expected to provide a breakout on the upside. The daily and weekly momentum indicators are well in the buy