Spice Jet (Target Rs68), Dena Bank (Target Rs94)

Close above 5000 mark

• After the retest of the neckline, from which the inverse H & S pattern saw a breakout, Nifty never looked back during the course of the day, flourishing northward till the final minute. The hourly and daily momentum cycles indicates that Nifty has a very high probability to heighten upto 5100, which is the conservative target of inverse H & S pattern.

Trading Ideas

• Remain stock specific from current levels.
• Mid term trading ideas which we like are Unitech (Target Rs80), Spice Jet (Target Rs68), Dena Bank (Target Rs94) and Voltas (Target Rs174). Traders maintain stop loss accordingly.

Investment Ideas

Jaiprakash Associates (JPA): CMP @ Rs137 (Target Rs185)

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