NIFTY VIEW
The daily trend in Nifty & Bank Nifty continues to be positive since 3 days. Market still does not have a clear trend. Crude & Rupee have been the market drivers, which brings in lot of uncertainty to the stocks. The support for the day is seen at 10570 while resistance is seen at 10680. A decisive break of 26000 would bring heavy weight banks like HDFC Bnk, Kotak Bank, etc. under pressure.
BUY MAH & MAH
CMP : Rs 870.25
TARGET : Rs 950
STOP LOSS : Rs 840
The stock has made a higher bottom formation pattern in the daily chart and has indicated a decent upward movement with still further potential maintained for an upward rally from here on in the coming days. The indicators are favourable with a positive bias and also the stock has moved past the 34 WMA moving average and is poised for an up move. With good volume participation witnessed, we recommend a buy in this stock for an upside target of 950 keeping a stop loss of 840
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