NIFTY: BUY
TARGET: 11,653
STOP LOSS: 11,501
The Index closed in the positive territory in the last trading session and it has again formed a life time high. The Index after having broken 11,495 on the upside has confirmed the extension on the upside, hence the minimum equality target on the upside comes to 11,653 whereas on the lower side 11,501 becomes a crucial support.
RAYMOND: BUY
TARGET: Rs 830
STOP LOSS: Rs 755
The stock has formed a falling wedge pattern on the daily charts in the fifth wave of the five wave falling structure. A minimum of 23.6% to 38.2% retracement is expected and in that process the stock is expected to bounce back till 830 levels. The support on the lower side is pegged at 755 levels.
BAJAJ AUTO: BUY
TARGET: Rs 2,840
STOP LOSS: Rs 2,688
The stock has started to retrace the five waves declining structure with a buy crossover in its momentum indicator MACD. The minimum target on the upside comes to 2840 whereas the support on the lower side is pegged at 2688.
AUROBINDO PHARMA: BUY
TARGET: Rs 690
STOP LOSS: Rs 640
The stock has provided a breakout from the cup and handle pattern which is a bullish reversal pattern. The momentum indicator has also come into buy mode which is quite positive for the stock. So, we recommend buying this stock for the target of 690 with a stop loss of 640.
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