Buy Tata Motors, L&T; Avoid Ashok Leyland: Aditya Agarwal

Aditya Agarwal, head (technical research) at Way2wealth, expects some profit booking in Nifty around 8,400 levels, but he said that markets are unlikely to correct significantly. Any declines towards 8,300 should be used to initiate fresh long positions. Stock Talk Buy Tata Motors: The stock is looking good on charts as it is trading above its support zone of Rs 420. The stock will continue its upward rally and it can go up to levels of Rs 490-510. Any dip towards Rs 460 will be a good opportunity to buy Tata Motors for target of Rs 500. Buy CESC: If the stock breaks above its resistance of Rs 630 it can go up to Rs 710-720. Avoid Allahabad Bank: Investors should avoid buying Allahabad Bank at current levels but around Rs 71-72 investors can buy this stock for target of Rs 81. Punjab National Bank: This stock can go up to Rs 120-122 in the near term. BHEL: The stock has multiple resistances around Rs 145-150 and investors should book profits around Rs 140-150. Buy L&T: This stock looks much better than BHEL on charts and it can go up to Rs 1,650-1,700 . Avoid Ashok Leyland: The stock has already staged a good rally from levels of Rs 80-110. Investors should book profits at current juncture. If it comes down to Rs 80-82, it will be a good level to buy Ashok Leyland.
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Buy Tata Motors, L&T; Avoid Ashok Leyland: Aditya Agarwal 0

05 July 2016Submitted by publisher

Aditya Agarwal, head (technical research) at Way2wealth, expects some profit booking in Nifty around 8,400 levels, but he said that markets are unlikely to correct significantly. Any declines towards 8,300 should be used to initiate fresh long positions. Stock Talk Buy Tata Motors: The stock is looking good on charts as it is trading above its support zone of Rs 420. The stock will continue its upward rally and it can go up to levels of Rs 490-510. Any dip towards Rs 460 will be a good opportunity to buy Tata Motors for target of Rs 500. Buy CESC: If the stock breaks above its resistance of Rs 630 it can go up to Rs 710-720. Avoid Allahabad Bank: Investors should avoid buying Allahabad Bank at current levels but around Rs 71-72 investors can buy this stock for target of Rs 81. Punjab National Bank: This stock can go up to Rs 120-122 in the near term. BHEL: The stock has multiple resistances around Rs 145-150 and investors should book profits around Rs 140-150. Buy L&T: This stock looks much better than BHEL on charts and it can go up to Rs 1,650-1,700 . Avoid Ashok Leyland: The stock has already staged a good rally from levels of Rs 80-110. Investors should book profits at current juncture. If it comes down to Rs 80-82, it will be a good level to buy Ashok Leyland.

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