CLOSE- 10605.15 (25.05.2018)
The market closed the week in positive territory after high volatility during the week. It made a low of 10,430.35 levels on nifty & 34,302.89 levels on sensex during week. It looks like possibility of end of wave-II correction as mentioned last week.
Stock Picks:
DHFL- BUY
CLOSE – Rs 616.05
TARGET – Rs 645/680
DHFL closed weekly in positive territory. It looks like end of short term consolidation. It’s outperforming in short term. It’s trading above 40 DMA. Its weekly momentum indicators are in BUY. One can BUY with stop loss of 590 for the target of 645/680 levels in short term.
AXIS BANK- BUY
CLOSE – Rs 538.45
TARGET – Rs 560/580
AXIS BANK closed weekly in positive territory.Its trading above 20DMA. Its weekly momentum indicators care BUY. Risk reward is favorable to BUY at current levels. One can BUY with a stop loss of Rs 514 for the target of Rs 560/580 levels in short-term.
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