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Trading strategies by Nilesh Jain of Anand Rathi: Buy Deepak Nitrite, BHEL

BHEL's stock has provided a breakout from a falling wedge pattern on the daily chart

Equity fund managers buy Infosys, sell Reliance Industries in October
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The RSI indicates further positive momentum in Deepak Nitrite's counter

Nilesh Jain New Delhi
BUY NIFTY | TARGET: 11,400 | STOP LOSS: 11,220

The Nifty index continued its up move and also reached our short term targets of 11,400. The overall structure still looks positive and we can expect Nifty to retest the levels of 11,400, going forward. The momentum indicators and oscillators on the weekly scales are still in 'buy' mode which hints at some buying at lower levels. The volatility index is currently near 21 levels which is giving comfort to the bulls. Thus, one can remain on the long side by keeping a stop loss of 11,220.

BUY DEEPAK NITRITE | TARGET: Rs

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First Published: Aug 21 2020 | 8:07 AM IST

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