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You are here : IndiaNotes >> Market Action >> Technical

Nifty: Remain bullish; await upside momentum to pick-up

FundsIndia.com | 13 Aug, 2012  | Follow Author | Add to my Favourites 


View on the Nifty / Trade ideas

- FundsIndia's recent view of a rally to 5,270 - 5,300 range has been validated by the price action

- While they remain bullish on the Nifty, they await upside momentum to pick-up before concluding that the next leg of rally to 5,600 is underway

- FundsIndia remains cautious on the banking sector. Public sector banks are weak. Any further fall could trigger a major slide. Next support for State Bank of India at Rs1,780-1,800 range

- In the individual stocks FundsIndia discusses the outlook for Balrampur Chini and Hindustan Unilever
  • Buy Balrampur Chini at or below Rs65.50, stop loss Rs62, target Rs.75.
  • Buy Hindustan Unilever on dips, stop loss at Rs478, target Rs540

Trading Ideas Given Last Week

Stock

Entry

Target

Stop loss

Current Price

Remarks

Sell NTPC

168-170

160

173

171.65

Call Active

Buy Dishman

80

995

74

89.2

Call Active

But Mcleodruss

321

365

304

321.2

Call Active

Buy Centurytex

313

344

297

322.25

Call Active

 

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About FundsIndia.com

FundsIndia is an online financial services platform for investors. Specializing in Mutual funds, FundsIndia also offers other services including equities and NPS.


For more information please write in to editor@indianotes.com


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 IndiaNotes.com accept any liability whatsoever arising from the use of any of the above contents.



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