SELL NIFTY TARGET 11685 STOP LOSS 11556
has fallen in a five wave declining structure on the hourly charts and a bounce of the same is expected. A minimum of 38.2% retracement of the same is expected, hence we recommend buying for the target of 11685 with a stop loss of 11556.
BUY TCS TARGET 2275 STOP LOSS 2099
The Stock has provided a breakout from the symmetrical triangular pattern with a buy crossover in MACD on its daily, weekly and monthly charts which is a positive sign. Hence, we recommend buying this stock.
BUY ICICIPRULI TARGET 390 STOP LOSS 357
The stock has provided a breakout from the sideways channel after having provided a breakout from the cup and handle pattern, thus indicating a continuation pattern breakout. So, we recommend buying this stock.
BUY JSWSTEEL TARGET 320 STOP LOSS 280
The stock has reversed from the lower end of the range and it has formed a bullish reversal cup and handle pattern. The momentum indicator MACD is also well into buy mode, hence we recommend buying this stock.
Disclaimer: Jay Anand Thakkar ,CMT is Assistant Vice President - Equity Research, Anand Rathi Shares and Stock Brokers. Views expressed are his own; All figures, except in Nifty, in Rs unless stated otherwise