Web Exclusive
Low volatility giving bulls comfort: Nilesh Jain of Anand Rathi

Since it is an F&O expiry week, we can expect some short-covering rally
BUY NIFTY | TARGET: 11,550 | STOP LOSS: 11,360

The Nifty index continued its upmove and also reached our short-term target of 11,400. Now, since we are in the August F&O expiry week, we can expect some rally on the back of the short-covering move. The momentum indicators and oscillators on the weekly scales are still in buy mode which hints at some buying at lower levels. The volatility index is currently near 19 levels which is giving comfort to the bulls. Thus, one can remain on the long side by keeping a stop loss of 11,360.

BUY JUBILANT LIFE SCIENCES | TARGET: Rs 905 | STOP LOSS: Rs 815

The counter has provided breakout from a falling channel on the daily chart. It is also taking constant support of its short term 21-DMA which is placed at 815 levels. The overall setup indicates that the positive momentum is likely to continue towards its previous swing highs. The RSI has also reversed from the oversold territory on the daily chart which hints at a further positive momentum in the counter.

BUY INDUSIND BANK | TARGET: Rs 555 | STOP LOSS: Rs 515

The stock has provided breakout from an ascending triangle pattern on the daily chart. The volume has also picked up from the past couple of sessions. The momentum indicator and oscillator are in 'buy' mode on the daily as well as a weekly scale which hints of further positive momentum in the counter.

BUY BAJAJ ELECTRICALS | TARGET: Rs 505 | STOP LOSS: Rs 475

The stock is making a higher top and higher bottom pattern on the daily chart. It is trading well above its short-term and long-term moving averages. The momentum indicators and oscillators are very well in the 'buy' mode on daily as well as weekly scales which hints of a further positive momentum in the counter.

Disclaimer: Nilesh Jain is Technical and Derivatives Research analyst at Anand Rathi Shares and Stock Brokers. He may have positions in one or all of the above mentioned stocks. Views are personal.



Dear Reader,


Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.

We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

Business Standard is now on Telegram.
For insightful reports and views on business, markets, politics and other issues, subscribe to our official Telegram channel