NIFTY VIEW
Nifty maintained the positive run for the second day but only a decisive move above the 10,250-10,300 range would bring about a positive conviction and we can anticipate further upward rally. As said earlier, the level of 9,950 would act a important support level. However, the support for the day is seen at 10,120 while resistance is seen at 10,240.
Being the expiry of F&O Derivative segment, we anticipate volatility in the market.
BUY GODREJ AGROVET
CMP : Rs 650.75
TARGET : Rs 710
STOP LOSS : Rs 620
The stock has formed a higher bottom formation pattern in the daily chart taking support at the significant 34 WMA and is showing a positive bias and with the RSI indicating a trend reversal, the chart looks attractive for further rise from here on. We anticipate the stock to scale upwards till 710 levels and with good volume participation witnessed, we recommend a buy in this stock for an upside target of 710 keeping a stop loss of 620.
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