Hold Nifty Longs. Sell Suzlon Energy

Hi all,


Nifty closed at 4986.55 today. The last day's fall and today's recovery was very much visible on charts. Supports on Nifty come at around 4968 and 4829 while the immediate resistance is at 5020.

Suzlon Energy
The stock has been under performing the market for quiet sometime now. The target is Rs78/- and then Rs71/- on the stock. It is not only for those who hold long position but those who do not have any position can go forward and short sell the stock with a stop loss at Rs95/- and target of Rs78/-.

Bank of Baroda
The stock can be bought at CMP (476.65) for a target of Rs492/- and a stop loss below Rs463/-. Since the risk to reward ratio is not too good, the stock should not be bought by risk averters.

Except for HDIL, almost all stocks have met their target. Hold long positions in HDIL with SL Rs316/-.


Disclaimer:-
1) Predictions of movement of Stocks are purely based on thorough technical analysis by the writer.
2) Writer bears no responsibility for any decisions made by any individual or firm based on analysis given in this page.
3) Writer shall not be liable for any damages or gains incurred due to recommendations presented on this blog.


Thanks
Neeraj Sehtya