The market remained optimistic for the second day in a row. On Tuesday, the benchmark index (Nifty / Sensex) opened again with a large gap and quickly broke through the 14550/48600 representing short-term resistance. In other words, the market not only broke through the resistance level, but even broke through the 14550/48600 level, which is very beneficial for Nifty/Sensex.
Technically speaking, Nifty remains at the level of 14550/48600, which shows that the bulls have completely controlled the market, which is what they want to reach the level of 14750-14800/49300-49800. Above the value of 14550/48600, we see a rebound and fall to 14700-14750 / 49100-49300. It is possible to rebound again, pushing the index to 14800/49800. On the other hand, layoffs 14550/48600 may open another position. Reach the 14485/48200 level in the recovery phase.
Buy in India, Havells India CMP: 1,028.5 rupees, target: 1,080 rupees, SL: 1,005 rupeesAfter the fall in 1231, the stock entered a zone of heavy bullish activity near the multi-support zone. In addition, the formation of a bullish marubozu candlestick pattern with good trading volume indicates a strong bullish movement in the multi-support zone.
Buy Hero MotoCorp, CMP: Rs 2,905.5, target: Rs 3,050, SL: Rs 2,840. In the past two months, the stock has entered a downward phase after hitting the highest two-line chart of around 3620, and then appeared at all its decisive values. .. Support area Finally, the formation of a strong reversal candle indicates that the recent trend has resumed.
Buying Bharat Petroleum Company (BPCL), CMP: 420.35 rupees, target: 445 rupees, SL: 410 rupees, a good demand base of 400-410 and the recent formation of cup and mango patterns in the daily time frame indicate that the upward movement is the largest May continue in the short term.
State Bank of India (SBI): Federal Bureau of Investigation (BBI), CMP: 353.05 rupees, target: 370 rupees, francs: 345 rupeesAfter the decline, SBI formed a circular basic pattern near its main rebound area on the daily chart, and the stock reversed sharply, filling the bearish gap with a strong bullish candle, so the bullish trend may continue in the short term.