Technical analyst Hunny Tarika of Fairwealth Securities said that Nifty witnessed good consolidation between 3300-3400 before moving upward to mark its closure above the 200 DMA of 3400.
Tarika said that stock traders are advised to be careful as there were low upside volumes on Thursday & Friday trading sessions.
He added that Nifty is shaping a pessimistic divergence in an overbought region. Those holding long positions should keep tracking their stop losses and any new position should be taken only with strict stop loss.
Equity analyst Sovid Gupta of Fairwealth Securities is bullish on Alok Industries and maintained 'Buy' rating on the stock to achieve a target of Rs 28.
Alok Industries is a leading vertically integrated textile player having sales of over 3000 crore and tough bottom line.
The analyst initiate a buy call on the company on basis of its good valuation, vast growth in topline by the next three years and augmented outcome from higher foreign currency earnings, increased sale of Value added products and Vertical/ backward Integration.
The US $6.7 billion Mahindra Group is among the top 10 industrial houses in India. Mahindra is the market leader in multi-utility vehicles in India. It made a milestone entry into the passenger car segment with the Logan. Mahindra & Mahindra is the only Indian company among the top tractor brands in the world. The Group has a leading presence in key sectors of the Indian economy, including the financial services, trade, retail and logistics, automotive components, after-market, information technology and infrastructure development.
Tokyo - The Tokyo market closed modestly higher Monday after optimism was dampened by concerns over the spread of swine flu. The benchmark Nikkei 225 Stock Average rose 18.35 points, or 0.21 per cent, to close at 8,726.34.
The broader Topix index of all first-section issues was also up 3.05 points, or 0.38 per cent, at 833.1.
Market sentiment was boosted in morning trading after Wall Street advanced before the weekend thanks to US carmaker Ford Motor Co reported better-than-expected earnings.
Technical analyst Hunny Tarika, Fairwealth Securities has maintained ‘Buy’ rating on ABB Ltd stock to achieve a target of Rs 540.
Technical analyst Hunny Tarika of Fairwealth Securities said that Nifty witnessed good consolidation between 3300-3400 before moving upward to mark its closure above the 200 DMA of 3400.
Equity analyst Sovid Gupta of Fairwealth Securities is bullish on Alok Industries and maintained 'Buy' rating on the stock to achieve a target of Rs 28.
Tokyo - The Tokyo market closed modestly higher Monday after optimism was dampened by concerns over the spread of swine flu. The benchmark Nikkei 225 Stock Average rose 18.35 points, or 0.21 per cent, to close at 8,726.34.
