NIFTY VIEW:
Market is finding it difficult to comfortably move past 10400 levels in Nifty and at regular intervals is subjected to profit booking. Bank nifty too moved towards 26000 levels and eventually witnessed profit booking. The support for the day is seen at 10320 while resistance is seen at 10415.
BUY INDIABULLS HOUSING FINANCE
CMP: Rs 1,200.05
TARGET: Rs 1,335
STOP LOSS: Rs 1,150
The stock has corrected well from the peak of 1373 to bottom out at around 1145 levels and currently has shown a decent reversal and we anticipate a further rise in the price with strength and potential to scale up to the previous peak. The indicators like RSI have shown trend reversal and signaled a buy. With decent volume participation witnessed, we recommend a buy in this stock for an upside target of 1335 keeping a stop loss of 1150
BUY HDFC
CMP: Rs 1,725.50
TARGET: Rs 1,850
STOP LOSS: Rs 1,670
The stock has more or less made a double bottom formation pattern in the daily chart at around 1645 levels and has bounced back with potential to show a positive bias. The RSI has been on the rise and we anticipate a further rally in the stock up to 1800 levels with strength in the coming days. With good volume activity seen, we recommend a buy in this stock for an upside target of 1850 keeping a stop loss of 1670.
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