NIFTY VIEW
Nifty as said earlier is near the peak level of 10850 levels and we anticipate choppiness and high volatility as the results would be released in the morning session. We maintain our levels of 10550 as a good support for Nifty on the downside while 10850-10900 would be a strong resistance. However, the support for the day is seen at 10740 while resistance is seen at 10860. All eyes would be awaiting for the Karnataka election results.
BUY JSW STEEL
CMP : Rs 329.05
TARGET : Rs 350
STOP LOSS : Rs 312
The stock has been moving with a positive bias in a gradual trending mode upwards and with the RSI indicator indicating a trend reversal, we anticipate the stock to move up till 345-350 levels in the coming days. Also the stock has maintained above significant 34WMA moving average and with decent volume activity seen, we recommend a buy in this stock for an upside target of 350 keeping a stop loss of 312.
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