Nifty view
Bank Nifty, meanwhile, ended the session with “Long Legged Doji” on the daily chart and the bearish implication of the same would be activated once the Index breaks below 45,000-mark in spot.
As far as resistance is concerned, 19,500 should continue to remain hurdle in the short term. Existing longs should be held with 19,300 stop-loss in Nifty.
Buy Central Bank
Last close: 30.55
Target: Rs 32.60
Stop-loss: Rs 28.80
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Daily charts show that the stock price has broke out from the downward sloping trend line. Price Breakout is accompanied by jump in volumes. PSU bank stocks have started outperforming the market in the last two trading sessions, while the stock is placed above all important moving averages, which indicates bullish trend on all time frames.
Buy Ujjivan SFB
Last close: 40.20
Target: Rs 42.40
Stop-loss: Rs 37.70
First Published: Jul 05 2023 | 7:15 AM IST