Hind Oil Expo (Target Rs282), Punj Lloyd (Target Rs206)

Momentum sees a deterioration

• With momentum seeing an evaporation backed by negative MACD crossover and negative RSI divergence, a small dip may be the likely scenario as of now. However the dip may not worsen because the daily MACD is still in the buy mode and above the neutral line. In the coming session the dip will get confirm on the break of 5090 level. Below 5090 the likely targets are 5028, 4991 and 4954. However on upside the clearance of 5148 will stretch Nifty for higher targets of 5200 and above.

Trading Ideas

• Remain stock specific from current levels.
• Mid term trading ideas which we like are Hind Oil Expo (Target Rs282), Punj Lloyd (Target Rs206), Spice Jet (Target Rs76) and Essar Oil (Target Rs162). Traders maintain stop loss accordingly.

Investment Ideas

HBL Power System (HBL): CMP @ Rs38 (Target Rs58)

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