Target: Rs 715
After an up move from 600 to 720 levels, GODREJCP has been trading with a corrective bias for the last three weeks. It has tested the support zone around 660 of late and indications are now in the favor of a rebound. Traders are advised to initiate fresh longs in the given range.
: Rs 2,820- Rs 2,830
We’re seeing consistent buying interest in the auto pack and the two-wheeler segment is leading the surge. Among all, HEROMOTOCO has formed a fresh buying pivot on the daily chart, after a marginal dip. The chart pattern is pointing towards a steady rise ahead. We, thus, suggest traders not to miss this chance and accumulate fresh longs within the mentioned zone.
Buy Sun Pharmaceutical Industries Limited
: Rs 478- Rs 482
SUNPHARMA has been consolidating in a range of 465-510 levels for the past two months or so while holding strongly above the support zone of the long-term moving averages on the daily chart. Recently, it has retested the lower band of the range and is likely to see a fresh rebound ahead. We, thus, advise creating fresh longs as per the mentioned levels.
: Rs 2,280- Rs 2,300
The IT majors are leading the recent up move in the benchmark index and TCS looks upbeat to continue the prevailing momentum. It has witnessed a fresh breakout on Tuesday (i.e. July 28), after spending nearly two weeks in consolidation. We advise initiating fresh longs in the given range.