NIFTY VIEW:
Market witnessed choppiness with a slight weak opening breaching the support of 10,080 for some time however bounced back to close above 10100 levels. The support for the day is seen at 10,070 while resistance is seen at 10,160.
MADHUCON PROJECTS - BUY
CMP: Rs 33.50
STOP LOSS: Rs 25
TARGET: Rs 50 - 60
Madhucon project is showing bottoming out at 25 levels after a corrective move from 60 levels, the RSI is supporting for an upmove towards 50-60. We recommend a buy in this stock keeping a stop loss of 25 for an upside target of 50 – 60.
DCB BANK - BUY
CMP: Rs 185
STOP LOSS: Rs 178
TARGET: Rs 200 – 205
The stock has been moving around in a consolidation phase and with the RSI indicator bouncing back from its oversold zone, has indicated a positive buy signal. We recommend a Buy in this stock with a promising upside target of 200 – 205 keeping a stop loss of 178.
BPCL - BUY
CMP: Rs 500
STOP LOSS: Rs 470
TARGET: Rs 550 - 560
The stock has given a bullish candle pattern after a short consolidation period and we anticipate it to give a return of around 7% -8% from here on. The RSI indicator has also given a Buy signal by reversing its trend. We recommend a buy in this stock keeping a stop loss of 470 for an upside target of 550 - 560.
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