Stock picks for the day: Nirmal Bang

Nirmal Bang has come out with its technical report on markets and stocks.

Nirmal Bang research report.

Market View   

Markets took a pause and consolidate after two days of strong rally and end lower  on weak Asian & European cues. The Sensex ended 49 points lower at 17,131  after trading in a narrow range of 17,230-17,027. On the NSE, Nifty ended at  5,090 down 13 points. The breadth turned negative and the total market volumes  were better at Rs 1,11,211 cr. Buying was seen in Auto, technology and sugar  stocks while metals & oil & gas stocks took a hit.   

Stock Idea

1) ADOR WELDING (158) - Buy with an investment view, volumes are not  much happening, strong support at 125, if the stock manages to cross  and hold above 180 then in the near term target looks 245. 
2) ESCORTS (116) - BUY, after huge consolidation the stock has managed  to cross and close above 112, now going forward if the stock holds above  117 with an average volume of 10 lac shares then immediate target looks  130 and next 150. Strong support is placed at 108 & 94 regions. 
3) EVEREADY IND (68) - Buy and hold with an investment view, the stock  has given a strong breakout with huge delivery volumes after a long  consolidation, strong support at 61/58, immediate target 76 and next 91.

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To read the full report click on the attachment