CANARA BANK 15813

THE COUNTER AFTER A SHARP DECLINE SEEMS TO HAVE FORMED A STRONG BASE AROUND 230 LEVEL.  ON A DAILY CHART THE CONSOLIDATION PHASE IS CLEARLY VISIBLE. NOW WITH THE INDICATORS LOOKING MODERATELY BULLISH WE SENSE THE COUNTER IS ON THE VERGE OF COMMENCING ITS SHORT TERM UPTREND. RECOMMEND BUY AT 249 SL 230 TGT 265-270 IN A SHORT TERM. 

AXIS BANK 13813

THE COUNTER WAS STRUGGLING TO CROSS 1100 MARK BUT TODAY IT SHOWED A SHARP RECOVERY AND GAVE A POWERFUL CLOSE ABOVE 1140 LEVEL. LOOKING AT THE RSI'S BULLISH FAILURE SWING WE EXPECT THAT THE COUNTER MAY FILL THE GAP AROUND 1195 LEVEL IN SESSIONS AHEAD. WITH OTHER INDICATORS TOO LOOKING QUITE BULLISH TRADERS CAN INITIATE LONG POSITION IN THE COUNTER WITH THE SL 1110 TGT 1190-1195 IN A SHORT SPAN OF TIME.

JAICORP LTD. 13813

THE COUNTER AFTER FORMING A BASE AROUND 35 LEVELS WITNESSED A SHARP BOUNCE BACK. TODAY IT BROKE ITS DOWNTREND CHANNEL RESISTANCE LINE MANAGED TO GIVE A CLOSE ABOVE ITS RESISTANCE LINE. WITH INDICATORS LOOKING STILL BULLISH THE COUNTER MAY SHOW INTRADAY STRENGTH IN SESSIONS AHEAD. RECOMMEND BUY AT 44 WITH CLOSING SL OF 42.5 TGT 48-50 IN A SHORT TERM.

MARUTI SUZUKI

THE COUNTER HAD A VERY STRONG SUPPORT PLACED AROUND 1325 AND DURING RECENT PAST IT FORMED A COUPLE OF DOJI CANDLESTICKS AROUND THE SAID LEVEL AND WITNESSED BOUNCE BACK. IT WAS STRUGGLING TO CROSS 1360 MARK BUT NOW THE SAID LEVEL HAS BEEN BROKEN ON A CLOSING BASIS WITH DECENT VOLUMES. WITH OTHER INDICATORS TOO LOOKING POSITIVE THE COUNTER MAY CONTINUE ITS UPWARD MOMENTUM. RECOMMEND BUY AT 1385 WITH CLOSING SL OF 1360 TGT 1425-1430 IN A SHORT TERM.

RELIANCE INFRA

THE COUNTER HAD A RESISTANCE IN 330 ZONE WHICH HAS NOW BEEN BROKEN ON CLOSING BASIS AND IT MANAGED TO CLOSE ABOVE ITS DOWNTREND LINE.  WITH INDICATORS LOOKING MODERATELY WE EXPECT THAT THE COUNTER MIGHT CONTINUE ITS NORTHWARD JOURNEY IN COMING SESSIONS. RECOMMEND BUY AT 345 WITH SL OF 333 TGT 360-365 IN A SHORT TERM.

TORRENT PHARMA 4813

THE COUNTER SEEMS TO BE IN STRONG UPTREND. IT WITNESSED A MINOR RETRACEMENT POST BONUS ISSUE BUT SHOWED A SHARP RECOVERY AND NOW THE COUNTER IS SUCCESSFULLY HOLDING 430 LEVEL, A RESISTANCE, ON A CLOSING BASIS. WITH THE INDICATORS TOO LOOKING MODERATELY BULLISH WE RECOMMEND BUY AT 447 SL 430 TGT 485-490 IN A MEDIUM SHORT TERM.