NIFTY VIEW:
Market has been consolidating at the levels of 10,260 and 10,370 for quite some time, however, the support for the day is seen at 10,300 while resistance is seen at 10,390. Nifty has its weekly trend down. It would turn up if it closes above 10,368 at the end of the week.
BUY PNB
CMP: Rs 189.20
TARGET: Rs 215
STOP LOSS: Rs 178
The stock has been more or less consolidating after the huge spurt it has produced some weeks back and now looks attractive and poised for a further rally upside with strength and potential and we anticipate it to scale the level of around Rs 216-218 levels in the coming days. The RSI is positive with a trend reversal indicated and with the bias being maintained positive, we recommend a buy in this stock for an upside target of Rs 215 keeping a stop loss of Rs 178.
BUY BERGER PAINTS
CMP: Rs 249.80
TARGET: Rs 275
STOP LOSS: Rs 238
The stock has made a higher bottom like pattern in the daily chart and it has been consistently taking support at the 200-DMA which is at 248 levels currently and making a bounce from there on. The stock has been moving in a similar pattern in the past 5-6 months and from here on we anticipate the stock to move again further to scale 275 levels. We recommend a buy in this stock for an upside target of Rs 275 keeping a stop loss of Rs 238.
BUY BHEL
CMP: Rs 88.65
TARGET: Rs 97
STOP LOSS: Rs 85
The stock has corrected well from the peak of 100 to bottom out at around 86 levels to look attractive and potential for further rise in the coming days. The RSI has been roaming in the oversold zone and now has indicated a trend reversal with a buy signal and has signified a positive bias. With decent volume participation witnessed, we recommend a buy in this stock for an upside target of 97 keeping a stop loss of 85.
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