Sumeet Bagadia, associate director of Choice Broking, says Nifty may continue its upside momentum and can touch 7,520-7,550 in the near term.
Stock Talk
Buy Tata Steel: The stock can touch levels of Rs. 296-Rs. 310 in next two days. Till Rs. 270 level is not broken on the downside, one can buy the stock.
Buy Hindalco Industries: The stock has given an upside move after one and half months of consolidation. Base metal prices on LME (London Metal Exchange) are also showing signs of recovery, which is getting reflected in metal stocks. Long position can be built in Hindalco for a target of Rs. 85-86 with a stop loss at Rs. 74.
Buy BHEL: Immediate target on BHEL is Rs. 110 and if it is taken out, then it can touch Rs. 125 level. Immediate support on the stock is at Rs. 95.
Buy L&T: The stock has formed a base after consolidation. It can go up to Rs. 1,280-Rs. 1,300 if immediate resistance of Rs. 1,220 is taken out. Rs. 1,170 will be the stop loss on lower side.
[“source-ndtv”]