Trade: Mcleod Russell (Target Rs. 288), MERCATOR (Target Rs. 66)

Nifty continued its streak of flat closing again in the start of the new week. It started the day on a negative note following weak global cues but in the second half of trade, it did manage to recover those early losses and remained volatile for rest of the day. On hourly chart, Nifty manage to bounce from the support of 50-HEMA packed at 5100, so unless that is intact, fresh shorting should be avoided. However on upside the hurdle of 5158 is still in place.

Trading Ideas Remain stock specific from current levels. Mid term trading ideas which we like are Mcleod Russell (Target  Rs. 288), MERCATOR (Target Rs. 66), Hanung Toys (Target Rs. 190) and Hindalco (Target Rs. 182). Traders maintain stop loss accordingly. Investment Ideas Essel Propack Ltd (EPL): CMP @ Rs. 43