Below mentioned are the calls from Sacchitanand Uttekar, Equity Technical Analyst:
Nifty continues its oscillation within the strangled trading range of 8720-8530 & a decisive breach outside the said range could unfold the directional bias. Until then expect volatility to have an upper hand as the range gets contracted. A decisive close above 8720 could reinstate the bullish momentum, therefore longs are advised with a stop below 8530.
Last Close: 1182
Target : 1310
Positive sector outlook & a fresh breakout from the continuation pattern augurs well for the secular up move to remain intact. Longs could be added with a stop below 1168 for a target upto 1310.
Last Close: 85.40
Target : 93
Rounding bottom formation on the weekly scale augurs well for the uptrend to remain intact. Fresh breakout raises expectation of an accelerated move. Jain Irrigation could be traded with a stop at 82.50 for a target upto 93.
Last Close: 10288
Target : 11700
‘Rising Three’ formation on the weekly scale is about to mature. The recent decline provides a good opportunity to add longs. We expect the stock to resume is secular up move. Bajaj Finance could be accumulated with a stop below 9740.
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Sacchitanand Uttekar is an Equity Technical Analyst at Motilal Oswal Securities