NIFTY VIEW:
Nifty has corrected by 900 points from its peak, with RSI still to get in oversold zone which implies some more scope of corrective move, however if Nifty sustains above 10550, we may see a further move to 10700-10750. The support for the day is seen at 10440 while resistance is seen at 10560. Its time to cherry pick stocks for accumulation in decline from here on.
BUY BERGER PAINTS
CMP: Rs 241.50
TARGET: Rs 265
STOP LOSS: Rs 230
The stock has witnessed a correction from the peak of 280 to make a bottom at 232 levels where it has given a regular support base and recovered. We anticipate a regain of strength to scale upto 260-265 levels and with all the indicators at their oversold zone, the chart looks attractive and we recommend a buy in this stock for an upside target of 265 keeping a stop loss of 230.
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