Nifty
Last close: 5,541
The markets rallied in the first half of the day, but re-treated from much-below the resistance zone on the Nifty. The NSE benchmark index touched a high of 5,593, as against crucial resistance around 5,630-odd levels. Tuesday's movement reinforces, the strength of the bears, and the 5,630-odd level will continue to remain the short-term hurdle for now. On the other hand, the index looks like consolidating within the 5,450-5,650 range for some time now. Most of the momentum oscillators continue to remain in sell mode, hence traders and investors should exercise caution on the long side of the trade.
Crompton Greaves
Last close: Rs 241
Target: Rs 255
The stock is trading in fairly oversold zones, and the Stochastic Slow has given a positive cue. Look the buy the stock, with a strict stop of Rs 235, and on the upside the stock can jump to Rs 255, with a potential target of Rs 270-odd levels on the higher side.
Essar Oil
Last close: Rs 131
Target: Rs 140
Essar Oil has been consolidating around its long-term (200-day) DMA for the last four trading days. Select momentum indicators have turned positive for the stock, and it can spurt to Rs 134-odd levels. For further strength, the stock needs to close above Rs 134, and then possibly target Rs 140.
TCS
Last close: Rs 1,139
Target: Rs 1,225
After a brief consolidation, TCS seems ready for a fresh pull-back. The recent low of Rs 1,120-odd levels can be looked as a reference point for fresh longs. The bulls with have the upper hand, above Rs 1,145, with a first target of Rs 1,170, and thereafter a rally up to Rs 1,225 can be expected.
Last close: 5,541
The markets rallied in the first half of the day, but re-treated from much-below the resistance zone on the Nifty. The NSE benchmark index touched a high of 5,593, as against crucial resistance around 5,630-odd levels. Tuesday's movement reinforces, the strength of the bears, and the 5,630-odd level will continue to remain the short-term hurdle for now. On the other hand, the index looks like consolidating within the 5,450-5,650 range for some time now. Most of the momentum oscillators continue to remain in sell mode, hence traders and investors should exercise caution on the long side of the trade.
Crompton Greaves
Last close: Rs 241
Target: Rs 255
The stock is trading in fairly oversold zones, and the Stochastic Slow has given a positive cue. Look the buy the stock, with a strict stop of Rs 235, and on the upside the stock can jump to Rs 255, with a potential target of Rs 270-odd levels on the higher side.
Essar Oil
Last close: Rs 131
Target: Rs 140
Essar Oil has been consolidating around its long-term (200-day) DMA for the last four trading days. Select momentum indicators have turned positive for the stock, and it can spurt to Rs 134-odd levels. For further strength, the stock needs to close above Rs 134, and then possibly target Rs 140.
TCS
Last close: Rs 1,139
Target: Rs 1,225
After a brief consolidation, TCS seems ready for a fresh pull-back. The recent low of Rs 1,120-odd levels can be looked as a reference point for fresh longs. The bulls with have the upper hand, above Rs 1,145, with a first target of Rs 1,170, and thereafter a rally up to Rs 1,225 can be expected.
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