NIFTY VIEW
Nifty has indicated a lower top formation in the daily chart but still clarity of directional movement of indices is still not maintained. With F&O segment expiry just around the corner, we anticipate volatility in the indices.
BUY GODREJ INDUSTRIES
CMP: Rs 580.55
TARGET: Rs 635
STOP LOSS: Rs 550
The stock has indicated a higher bottom formation pattern in the daily chart with intraday low taking support at the previous low made at around 525 levels and currently has showed a pullback to move past the 34 WMA moving average levels to signify potential and strength to rise still further in the coming days.
BUY HDFC LIFE
CMP: Rs 502.85
TARGET: Rs 560
STOP LOSS: Rs 470
The stock has indicated a higher bottom formation in the daily chart and currently has moved past the significant 50 DMA moving average to signify strength and potential to rise further in the near future.
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