The Nifty is likely to test 8,850 in the near term, after which it can go up to levels of 9,100, says Jay Thakkar, senior technical analyst with Sharekhan. (Watch)
Stock Talk
Buy Reliance Infra: The stock is forming higher top and higher bottom formation on charts. Buy this stock at current levels for target of Rs 660 with stop loss at Rs 575.
Sell Bharti Airtel: The stock looks weak as it is trading in a downward sloping channel. Go short with a stop loss at Rs 347 for target of Rs 200-210
Sell Idea Cellular: The stock looks weak and it can go down to its next support level of Rs 74. Go short with stop loss at Rs 96-97.
Buy Adani Ports and SEZ with stop loss below Rs 249 for target of Rs 293.
Hold Tata Motors: The stock can go up to Rs 850.
Hold Maruti Suzuki: The stock is looking good as it is forming higher top and higher bottom formation on charts. However, fresh buying is not advisable at current levels. Those holding Maruti Suzuki should continue to hold with trailing stop loss at Rs 4,500-4,550 for target of Rs 6,100-6,150.
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