CLOSE- 11429.50 (10.08.2018)
Market closed 3rd concecutive week in positive terriotry. It has achieved my short term targets levels on nifty near recent high as expected last week. It made a high of 11,495.20 levels on nifty & 38,076.23 levels on sensex so far in this rally. Its slow & steady extending on upsdie with high volatality. One can expect market to extend futher towards higher levels targets as mendtioend below in short to medium term. Any kind of short term consolidation or correction is stock specific buying opportunity till short term reverses.
Stock Picks:
GRANULES - BUY
CLOSE – Rs- 104.30
TARGET – Rs- 112-115
GRANULES closed the weekly in negative territory. It has wave-V up pending on daily chart. Its weekly momentum indicators are in BUY. Its trading above 20DMA. One can BUY with a stop loss of Rs-93.90 for the target of Rs 112-115 levels in short-term.
TCS - BUY
CLOSE – Rs- 1995
TARGET – Rs 2050-2100
TCS closed the weekly in positive territory. Its still trading above 20 DMA. It has wave-V up pending as per weekly chart. Risk Reward is favourable to BUY at current levels. Its daily mometum indicatros are in BUY.One can BUY with a stop loss of Rs-1870 for the target of Rs-2050-2100 levels in short-term.
POWERGRID - BUY
CLOSE – Rs- 189.25
TARGET – Rs 195-199
POWER GRID closed the weekly in negative territory. Its looks like impulsive structure from recent bottom. Risk Reward is favourable to BUY at current levels. Its daily momentum indicators are in BUY. One can BUY with a stop loss of Rs-180.35 for the target of Rs-195-199 levels in short-term.
BEL - BUY
CLOSE – Rs- 121.05
TARGET – Rs 127-133
BEL closed the weekly in positive territory. Its outperforming in short term.Its looks like end of medium term correction. Risk Reward is favourable to BUY at current levels. Its daily momentum indicators are in BUY. One can BUY with a stop loss of Rs-107.40 for the target of Rs-127-133 levels in short-term.
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