NIFTY VIEW
Nifty after crossing the much awaited resistance of 10,640 has reached the target of 10,700, view still remains bullish but 10,800-10,850 should be a level to watch as this would be a gain of 900 points from its correction which may witness profit booking. The support for the week is seen at 10,550 while resistance is seen at 10,850.
BUY KARNATAKA BANK
CMP: Rs 122.50
TARGET: Rs 135
STOP LOSS: Rs 115
The stock after the decent correction has bottomed out at around 110 levels and has regained significantly to move past the moving average of 34 wma which is at 123 level and has indicated strength and potential to rise further till 135 levels., The RSI has been in a positive trending mode to signify strength in the stock for still furthermore rise in the coming days. With good volume participation witnessed we recommend a buy in this stock for an upside target of 135 keeping a stop loss of 115.
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