CLOSE- 10692.30 (27.04.2018)
Market closed 5th consecutive week in positive territory. It's slow but steady extending on upside towards higher levels targets in short term as expected last week. It made a high of 10,719.80 levels so far in this week. It closed near high at the end of the weekly trading session. It's trading in channel as per daily chart. All the other indices such as midcap, small cap etc also extended gain & closed weekly in positive territory. One can expect the market to extend further towards higher levels targets as expected below in short term. Any kind of decline or short term consolidation is stock specific buying opportunity till short term reverses.
Stock Picks:
BATA- BUY
CLOSE – Rs 790.50
TARGET – Rs 810/835
BATA closed weekly in negative territory. It’s outperforming in short term. Its consolidating in a narrow range for short term. It's trading above 20 DMA. One can BUY with a stop loss of 760 for the target of 810/835 levels in short term.
DCB BANK- BUY
CLOSE – Rs 195.20
TARGET – Rs 205/209
DCB BANK closed weekly in positive territory. It’s outperforming in short term. It's trading above 20 DMA. Risk reward is favorable to BUY at current levels. One can BUY with a stop loss of Rs 185 for the target of Rs 205/209 in short-term.
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