For the Nifty, there is significant support in the 17,674-17,622 zone. We expect the Nifty to see levels of 18,000-18,100 in the near term.
Yesterday’s trade saw a post-budget rally in the market. In Wednesday’s trade, the Sensex closed 700 points higher at 59,000. At the same time, the Nifty rose more than 1 percent to close at 17,780. Financial and technical stocks saw good gains in yesterday’s transaction.
Rajesh Palvia of Axis Securities said the Nifty has made a bullish candle on the daily chart and closed above the previous day’s high, which is a sign of continuity in the market. On the overall chart, the Nifty is showing an upward trend and forming a higher top and a higher bottom series, indicating a positive trend in the market. For the Nifty, there is significant support in the 17,674-17,622 zone. We expect the Nifty to see levels of 18,000-18,100 in the near term. Rajesh Palvia advised short-term traders to hold their long positions with a stop loss of 17,600. The 17,600 has significant support for the Nifty.
Today’s intraday calls that can make a lot of money
Sumit Bagdia’s Intraday Call of Choice Broking
Usha Martin: Buy current level, target 94-99 rupees, stop loss 88 rupees
Voltas: Buy current level, target 1250 rupees, stop loss 1180 rupees
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Anuj Gupta’s intraday call from IIFL Securities
Federal Bank: Buy current level, target 108 rupees, stop loss 96 rupees
Bharti Airtel: Buy at current level, target Rs 765, stop loss Rs 695
Intraday photo of Abinash Gorakshak of Profitmart Securities
Kotak Mahindra Bank: Buy current level, target 1995 rupees, stop loss 1915 rupees
Voltas: Buy current level, target 1265 rupees, stop loss 1190 rupees