Ruchit Jain, equity technical analyst at Angel Broking, says there is no certainty that a market bottom is in place. A pullback towards 7,240 is possible as long as Nifty holds 6,870, he added. (Watch)
Stock Talk
Buy Bank of Baroda: The stock has broken on the upside with good volumes after Q3 results were announced. It could head towards Rs 147 in next 2-3 days.
Buy SBI: It is trading around its long term support zone. A pullback move can take the stock towards Rs 178-180 levels.
Buy Axis Bank: The stock is consolidating after a sharp fall and downside is limited. It can give good returns in the near term.
Buy Tata Motors: The stock has shown good volumes around its support zone of Rs 270-280, which indicates buying is taking place. It can rise to Rs 335-Rs 350 in the near term.
Avoid Adani Ports: The stock is forming lower tops and lower bottoms, which is a bearish signal. It has broken its long-term support of Rs 240. Sell the stock if it pulls back towards Rs 235.
Avoid Just Dial: The current upmove is on account of short covering and the trend remains down. Once the short covering rally gets over, the stock can fall to Rs 400.
[“source-ndtv”]