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Buy Power Grid; Sell Jubilant FoodWorks, Motherson Sumi Systems

Way2wealth | 05 Mar, 2018  | Follow Author | Add to my Favourites 
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The concluding session of truncated week began with a mild gap down opening. Post  opening,  index  made  another  valiant  attempt  to  rally  higher  however  such bounce  immediately  sold-into.  Subsequently,  the  bouts  of  sell-off  during  the penultimate  hour  of  trade  resulted  into  a  close  inside  the  negative  territory.


Looking at the hourly chart, the Wednesday’s gap area continued to act as a near term hurdles. At this juncture, Nifty  is broadly trading in a range hence either way breakout or breakdown will dictate the near term direction. For the day, 10420 / 10380 are immediate support whereas 10500 / 10540 are intraday hurdles.

Stocks For Today

Name                  Entry                         Target        Stop loss

POWERGRID      Buy Above 199.10        209           195

JUBLFOOD         Sell At cmp 2005.85    1930          2030

MOTHERSUMI    Sell Around 321            306           328.75

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194.25 +1.05
194.25 +1.55
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Disclaimer: The author has taken due care and caution to compile and analyse the data. The opinions expressed above are only the views of the author, and not a recommendation to buy or sell. Neither the author nor accept any liability whatsoever arising from the use of any of the above contents.

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