The Nifty traded around 5,330 marker levels for the better half of Wednesday but failed to close above that mark.
It registered a high of 5,342 yesterday, which now becomes the crucial upside pivot/breakout levels. Prices should now go past 5,342 convincingly before the rally can gather steam.
This means that the stalemate could continue for some more time and 5,183-5,342 remains the trading range.
The small bold black trend line at 5,205 and the 200 DEMA around 5,210 remain other crucial supports making the 5,183-5,210 range a strong support and a likely springboard for the next up move.
Here are few stock ideas based on charts.
1) Tata Motors:
Buy with a target of 340 and an intraday stop loss of 298.4.
2) Siemens:
Buy with a target of 890 and a stop loss of 808.4.
3) IVRCL:
Buy with a target of 68 and a stop loss of 62.4.
4) Educomp:
Buy with a target of 215 and a stop loss of 197.4.
5) Hindalco:
Buy with a target of 135 and a stop loss of 127.4.
6) ITC:
Sell with a target of 225 and a stop loss of 251.1.
7) Hero Honda:
Sell with a target of 2,000 and a stop loss of 2206.
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