Nifty View
Nifty makes a lower top formation in the daily chart, indicating exhaustion at higher levels. The daily and weekly trend continue to be down in Nifty. The support for the week is seen at 9,670 while resistance is seen at 9,960.
MOLD-TEK PACKAGING - BUY
CMP: Rs 293
TARGET: Rs 320
STOP LOSS: Rs 270
The stock after correcting from the levels of 314 has been in consolidation at around 272 – 278 levels for some time which is also a strong support zone and now has picked up strongly and has the potential to rally further to new heights. The RSI also has reversed its trend recently to signal a positive bias and with good volume participation witnessed, we recommend a buy in this stock for an upside target of 320 keeping a stop loss of 270
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