The Nifty tested and broke above 7,600 on Friday, which according to market analyst Imtiyaz Qureshi, is a positive sign. Derivatives data indicate that 7,500 will act as a crucial support for Nifty, says the co-founder & director at Investeria Financial Services.
Stock Talk
Accumulate SAIL: The stock is looking good on charts. Investors can start accumulating SAIL with stop-loss at Rs 41 for target of Rs 46-47.
Tata Steel: The stock is likely to consolidate and profit-booking would emerge in this stock near Rs 310-312.
Buy Voltas: The upward momentum is likely to continue in this stock. If the stock moves above Rs 272, it can go up to Rs 300. On the downside, investors should look at buying this stock on correction around Rs 247.
Hold Jubilant FoodWorks: The stock broke above important level of Rs 1,190 which is a positive indication for the stock. On the higher side, gains would be capped around Rs 1,270-1,280. Investors holding the stock can book profits around Rs 1,280.
Buy Kaveri Seeds: Investors should wait for some time before buying this stock. The stock moved from Rs 300 to 416 and some profit-booking is likely to emerge in the near term. Investors can look at buying this stock around Rs 350.
Avoid Lupin: The stock broke below its important level of Rs 1,590. The stock can go down to Rs 1,500 and if it holds around Rs 1,497 then there can be some pause in the intense selling pressure.
Buy Adani Ports: The stock is showing momentum after the selloff and it can go up to Rs 268-270 in the near term.
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