Reliance and TCS helped to nifty closed in positive. at bottom level of nifty 5270, Banking stocks" rally supported nifty to move higher levels. but at closing banking stocks faced small correction
Nifty for june 22nd: (Refer to chart: Nifty for june 22nd)
Europe markets gained more, nearly 2% us up more than 100 points and all Asian markets in blue includes SGX up 33 points.
So we can expect nifty gap up (30-40 points), use Camarilla pivot level for intra-day trade. If it sustains above 5340 levels which is crucial for bull confirmation and it should be considered as the real strength of nifty without worrying about the global view.
Stocks to Watch:
Bajaj Auto (Refer to chart Bajaj Auto)
In hourly stock chart, this scrip has been trading between Rs 1,295 and Rs 1,335 for last couple of days. As accumulation is evident at bottom levels, it is time to get ready for an up side move.
This stock should be bought above Rs 1,335 with a stop loss of Rs 1,320. The target for the stock is Rs 1,365. Hold this stock for two days with stop loss and target in sight.
Sterlite Industries: (Refer to chart:STER)
From Rs 174 levels this stock slid to Rs 154, therefore, we can expect a pull back from this support level.
This will open an opportunity to buy above Rs 154.50. Put a stop loss at Rs 152, with a target price of Rs 159. The target should be achieved within two days.
Intra day calls:
Buy Tata Motors (risk Rs 12 / return Rs 21)
Above Rs 942
Stop loss at Rs 930
Buy BHEL (risk Rs 15 / return Rs 20)
Above Rs 1915
Stop loss Rs 1,900
Target Rs 1935
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