Nifty closed in the positive territory in the last trading session and with that it has managed to close above 11,900 levels again. The daily as well as weekly momentum indicator MACD is well in the buy mode, hence we continue to maintain our short-term as well as medium-term bias as positive. The index is likely to inch towards 12,200 till 11,694 levels are held.
BANK OF BARODA: BUY | TGT: Rs 105 | SL: Rs 91.50
The stock has formed a nice inverse head and shoulders pattern which is a bullish reversal pattern. The momentum indicator MACD is well in the buy mode on the daily as well as weekly charts, hence we recommend buying this stock.
INDUSIND BANK: BUY | TGT Rs 1,554 | SL: Rs 1,393
The stock has started to form higher tops and higher bottoms with a positive divergence in its daily MACD as well as weekly MACD. The stock is likely to continue its upward journey till the next resistance, hence we recommend buying it for the target of Rs 1,554.
Disclaimer: Author may or may not have positions in the above mentioned stocks 
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