Stock Trading Ideas

Nifty Outlook

Nifty did see a closing below the support of 7620-7600 and the downside has no immediate levels to track unless some pattern develops. Temporary level exists at 7200. Its recommended to keep positions low & hedge the pending long positions. Pullbacks if any shall be restricted to 8100-8200 and to believe that one should take temporary positions only above 7730-7750

HDFC: BUY

Target : 1350

HDFC has been in a secular uptrend & the 'Spike' on the weekly scale has occurred near the long term support re-confirming the strength in the support. The setup provides a good reward to risk opportunity for fresh longs & the stock could be accumulated with a stop below 1076 for a target upto 1350 (Prior swing high).

BPCL: BUY

Target : Rs.1110

Shadow on the weekly scale re-confirms the long term support & continuation of the secular uptrend. The setup provides a good reward to risk opportunity for fresh longs with a stop at 793 for a medium term target upto 1110.