NIFTY VIEW
Market continues to slide further, with Nifty after making the lower top formation at around 10480 levels in the daily chart and now with the negative sentiment looming around, the 200 DMA level of 10160 would prove to be very crucial, which when breached can see fresh downward targets of 9800-9700 levels. However, the support for the week is seen at 9920 while resistance is seen at 10430.
BUY MAH &MAH
CMP: Rs 740.75
TARGET: Rs 795
STOP LOSS: Rs 715
The stock has made a double bottom formation and taken support at the 200 DMA levels and from there on has recovered to indicate strength and potential to carry on the positive momentum still further upwards. The indicators are positive with the RSI showing a trend reversal with a buy signal and so is the MACD which is on the rise to support our view of a buy. With good volume activity witnessed, we recommend a buy in this stock for an upside target of 795 keeping a stop loss of 715.
No comments:
Post a Comment