The Nifty is currently trading below an important medium term moving average. Also, it is confirmed by medium term indicator which is also confirming this bearish possibility. Due to this, any declines could head towards the lower end of the trend channel, which is currently at 4,700. Hence, our view remains skewed towards weakness in the medium term.
Following are three weekly technical calls for 1-2 months:
Aptech:
Buy in the range of 128-130 levels for a target of 147-155 levels with a closing below stop loss of 120 levels.
Ashok Leyland:
Buy in the range of 25-27 levels for a target of 32-35 levels with a closing below stop loss of 23 levels.
IVRCL:
Buy in the range of 42-44 levels for a target of 55-60 levels with a closing below stop loss of 38 levels.
Following are three weekly technical calls for 1-2 months:
Aptech:
Buy in the range of 128-130 levels for a target of 147-155 levels with a closing below stop loss of 120 levels.
Ashok Leyland:
Buy in the range of 25-27 levels for a target of 32-35 levels with a closing below stop loss of 23 levels.
IVRCL:
Buy in the range of 42-44 levels for a target of 55-60 levels with a closing below stop loss of 38 levels.
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