Prakash Gaba of prakashgaba.com
Key levels to watch out today
Nifty (9501)
Support: 9430-9400
Resistance: 9600
Bank Nifty (23191)
Support: 22800
Resistance: 23400
Stocks
Bullish Plays
Hero MotoCorp: Base Formation
Target: Rs 3720
Stop loss: Rs 3562
IndusInd Bank: Momentum Pull
Target: Rs 1490
Stop loss: Rs 1435
Jindal Steel & Power: Breakout
Target: Rs 125
Stop loss: Rs 114
TVS Motor Company: New High
Target: Rs 550
Stop loss: Rs 535
The bar that is generated by Berger Paints is a good bar, it's a bullish bar. I would have a stop loss below Rs 245 and trade long. The minimum target that I see is around Rs 270 zone. It may take its own sweet time but that is the target I am looking at in Berger Paints."
"I like Bajaj Finance. It looks good to me. The way it is trading, it looks like it can climb to levels closer to Rs 1,320 zones, keep stop loss below Rs 1,260."
"I also like Strides Shasun. It looks like the stock is bottoming out from here maybe a reaction is coming in. We can see levels around Rs 930 zones, stop loss below Rs 900 should be fine."
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