Market Technicals
After a volatile session, Nifty closed flat with a positive bias and continued its uptrend for the fourth consecutive day. Midcap and Smallcap indices continued to deliver strong performances, closing the day higher by 0.68% and 0.44% respectively. The hourly look of Nifty indicates that market is just taking a breather and is forming a base for the next up move. Currently Nifty is near the key support of 20-HSMA packed at 5260 and hence we expect Nifty to give an upside breakout from the ongoing consolidation range very soon. Trading Ideas
- Mid term trading ideas which we like are MLL (Target Rs. 70), IFCI (Target Rs. 65), Suzlon (Target Rs. 108) and ENIL (Target Rs. 260). Traders maintain stop loss accordingly.
Investment Ideas
- Mahindra and Mahindra Ltd:CMP @ Rs. 1,180
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