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Buy DLF, Yes Bank, HDIL; Exit Just Dial: Ruchit Jain

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Buy DLF, Yes Bank, HDIL; Exit Just Dial: Ruchit Jain
Nifty was facing resistance around 8,200 but market breadth was positive which indicated an extension of upmove, says Ruchit Jain, equity technical analyst at Angel Broking. Going ahead 8,275-8,280 is minor resistance area for Nifty but the way market breadth is panning out, it suggests that Nifty may head towards 8,370 levels and traders should hold their long positions, adds Mr Jain.

Stock Talk

Buy DLF:
The stock faced resistance around Rs 118 and for over a month it was in consolidation phase. The moment it broke above Rs 118 volumes started to pick up meanwhile, DLF can go up to Rs 135.

Buy HDIL: Once the stock moves above Rs 64-65 it can go up to Rs 71-72 in short term.

Buy Yes Bank: The stock has given a breakout on charts and it can go up to Rs 1,270 in next few trading sessions.

Buy Kotak Mahindra Bank: The stock is trading near its crucial support zone and it can stage a pullback move. Traders can go long on this stock for target of Rs 730 with stop loss below Rs 684.

Exit Just Dial: Apart from Thursday's move, the stock is forming a lower to lower bottom structure on charts. The way prices have corrected in last six months, it would require a lot of buying momentum to change the trend for the stock and rally should be used as an opportunity to exit Just Dial.

Buy JSW Steel: The stock was in uptrend till September and in last four months it has seen correction. Traders can buy this stock for target of Rs 182-185.

Hold Hindustan Zinc: Traders can hold this stock with stop loss below Rs 242 for target of Rs 280-285.

Buy Cipla: The stock is holding on to higher levels and it can go up to Rs 615-616.

Buy Indian Oil: The stock is forming higher top higher bottom formation on charts and the volumes are supporting the upmove. Traders can buy this stock on dips around Rs 330-335.

Disclaimer: Investors are advised to make their own assessment before acting on the information.
 


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