Technical calls from HDFC Securities: Buy JK Cement, Godrej Properties

Nifty view and technical calls from Vinay Rajani, Technical & Derivatives Analyst, HDFC Securities.

Utilize dips to create fresh long positions
 

Nifty took some breather after leaping more than 8 per cent in just two sessions. The gap up opening on Sep 23rd, 2019 has left the unfilled range of 11,400-11,500 and same can act as strong support for Nifty going forward. Resistance for Nifty is seen at 11,757 followed by 12,000.

Stock recommendation:

BUY JK CEMENT (Rs 1,139)

Target: Rs 1,250

Stop-loss: Rs 1,080
 

The stock has surpassed the previous top resistance on the daily charts with higher volumes and is on the verge of registering new all time high above Rs 1,182.