VN Research & Consulting
 Like us on facebook  Follow us on twitter  Follow us on LinkedIn  IndiaNotes on Google Plus  IndiaNotes on Pinterest  IndiaNotes on Stumbleupon  Subscribe to our feeds

Stocks  A | B | C | D | E | F | G | H | I | J | K | L | M | N | O | P | Q | R | S | T | U | V | W | X | Y | Z
You are here : IndiaNotes >> Research & Analysis >> Companies >> Bajaj Auto Ltd. >> Research

Investment Idea: Buy Dr. Reddy's Laboratories; Sell Century Textiles, Bajaj Auto

Way2wealth | 28 Feb, 2018  | Follow Author | Add to my Favourites 
  • Rate this article
    (Average Rating 0.0 Based on 0 ratings)

Nifty Spot

Yesterday, the Nifty index made its opening tick above 10600 marks by taking the cues from the US bourses. However, such move proven to be short-lived as index pared all its gains and slipped inside the negative territory. Subsequently, index traded sideways during the second half and eventually ended with a loss of 0.27%. Looking at the daily chart, the previous swing highs of 10618 / 10638 acted an immediate hurdle. On hourly chart, the 9-45 EMA on price is positive and RSI (14) oscillating above 60 levels which augurs well on a short term. For the day, 10600 / 10650 are intraday resistance whereas 10507 / 10460 are near term support.

Bank Nifty Spot

The Nifty Bank index opened on muted note and tumbled sharply during the initial hour of trade. Subsequently, the pace of sell-off decelerated however index eventually ended well inside the negative territory. Once again, we saw vertical decline in some of the PSU Banking stocks which weighs on index. Looking at the daily chart, yesterday’s high also coincided with the daily 45-EMA which likely to act as an immediate hurdle. For the day, 25570 / 25750 are near term hurdles for index whereas 25200 / 25015 are immediate support in case of further sell-off.

Stocks For Today

Name                      Entry                       Target             Stop loss

DRREDDY               Buy Around 2230       2320               2170

CENTURYTEX          Sell Below 1206        1168               1228

BAJAJ-AUTO           Sell Below 3022        2960               3059

  Read full report Click here to read the full report

2,912.20 -36.90
2,910.45 -38.30
Read More
About Way2wealth

Way2Wealth today has established itself as one of India’s ‘Premier Investments Consultancy Firms’, known for making investing simpler, more understandable and profitable for the investors. They offer a wide range of products & services viz: Equity, Derivatives, Currency Futures, Commodities Trading, IPO's, Mutual Funds, Portfolio Management Services & Depository Services.


For more information please write in to [email protected]

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.

Technical Calls

What are technical calls?

Other Articles

Have a question?