Nifty has support around 8430 and resistance around 8600. Market looks overbought as per daily chart
and expected to correct by 120 points of nifty from this level. It is risky to short sell positional as it is
bullish as per weekly chart. It is like buy on decline.
Stocks to be traded in next week as per stop loss as follows..
Name of stock Action Stop loss target
Bajaj auto buy 2640 2800
Rel ind Buy 1000 1080
Motherson sumi Buy 280 320
Adani power Short sell 31 27….25
ALBANK Short sell 84 68
Gail Buy 380 420
Indusind bank Buy 1100 1200
Mind tree Short sell 660 600
Oil Buy 360 420
Oriental bank Short sell 128 110