Nifty Outlook:
Nifty has been crawling throughout the current month but has managed to keeps its float about 11,500 & inched higher towards 11,800 marks. Out of last 15 trading sessions it has witnessed 11 sessions with narrow ranged action with 7 Doji formations throughout the course.
V-GUARD
Reco: Buy
CMP: Rs 221.90
Fresh breakout from a continuation pattern indicates the ongoing upmove to remain constant. Also a sustained move & a close above its immediate highest CE OI congestion of 220 could derail the option writers confidence & provide further stimulus for the upmove. Expect the move to extend towards 228; hence the same could be participated with a trading stop below 217.
TVS MOTORS
Reco: SELL
CMP: Rs 558
Occurrence of Bearish Engulfing formation at the upper end of the declining channel formation could be a sign of exhausting pullback. Fresh shorts could be considered with a stop above 568 for an immediate swing towards the lower end of the pattern placed around 500.
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