Where do you see Nifty headed in the brand new series?
If you see Nifty was getting stuck in the range of 18400 on the lower side.But there was a strong support at 18100 levels whenever Nifty used to go very close and bounce back very sharply and we have seen a very strong session on Friday which clearly indicates yes that Nifty is heading to the prior all-time high and even it can extend its gain further.
We are of the opinion that initial resistance is at 18650 levels once that level has been crossed then you are going to see the prior all-time high and then it can extend its gain further.
What about Bank Nifty? It is just 150 points away from its life high levels. It has managed to tease and elude that level of 44151.80 earlier. Do you see it happening in the coming week?
Yes, in the next few weeks we could see that Bank Nifty would make a fresh all-time high and can extend its gains towards say 44500 to 44800 levels. One has to trade with positive bias in Bank Nifty.
If I had to ask you for your top stocks recommendations what would be those?
I have selected two stocks; one is VRL Logistics, currently trading at around Rs 746, one can keep a stop loss of Rs 690. On the higher side we expect the stock to move towards Rs 840 to Rs 890 levels.
The second stock is Tata Elxsi. It has given a strong base formation and currently it is trading at Rs 7460. Keep a stop loss of Rs 7200. On the higher side we expect the stock to test the levels of 7900-8200 in a couple of weeks time.
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