Nifty Outlook:
Nifty now gets into the bear grip whereby the sentiment is now corrective with indices showing signs of fatigue at these levels & now the fear of weekly trend too turning down would further bring a corrective bias. The support for the day is seen at 9,860 while resistance is seen at 9,950.
ASIAN PAINTS - BUY
CMP: Rs 1,155.55
TARGET: Rs 1,230
STOP LOSS: Rs 1,100
The stock has had a good run in the past 6-7 months with good volume participation from the market players and we anticipate the same bias for further rally from here on to scale new heights. The RSI has been strongly poised and with steady rise, the stock looks attractive and potential for more upward movement. We recommend this stock for an upside target of 1230 keeping a stop loss of 1100.
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