The Nifty could be above 8,000 by the end of December, though it could also test 7,690 on the downside, says Sahil Kapoor, chief technical analyst, Edelweiss RCM Research.
Stock Talk
Buy Just Dial: The stock made a bottom near Rs 760 and has support between Rs 800 and Rs 850. Just Dial will trade on a volatile note in the near term and will be difficult to go up to Rs 1,000. One can look at buying this stock near Rs 850 with stop loss below Rs 800.
Buy Reliance Communications: The stock is in a bounce back phase and it is a good trading bet. RCom faces resistance around Rs 90-92 while on the downside it can go to Rs 60-65. One can buy around Rs 60 for upside target of Rs 92.
Sell DLF: The stock has not been able to breach Rs 130 on the upside. DLF is trading in range of Rs 100-130 and is likely to remain in this range. One should play this range and if weakness appears near Rs 120 then one can go short in this stock.
Buy TVS Motor: The stock can go to Rs 320. One can buy near Rs 280 for target of Rs 320.
Sell Bharat Forge: The stock will continue to slide towards Rs 730-740 levels; one should short this stock on rallies.
Buy Voltas: The stock is undergoing a phase consolidation and it should go to Rs 350-370 over 6-9 months. Stock is unlikely to go below Rs 260. One should enter around Rs 270-275 with stop loss at Rs 260.
Buy Siyaram Silk Mills: This stock has significant potential and over next two-three years it can go up to Rs 1,570.
Buy Zee Entertainment: Enter the stock around Rs 380-385 for target of Rs 430-450. However, in the near term, there is a declining trend and that should end around Rs 385.
Buy Adani Ports and SEZ: The stock appears to be oversold and if it crosses Rs 265 then it can go up to Rs 300. But one should wait for this stock to close above Rs 265.
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