Analysts recommend stocks like Reliance, HCLTech, Maruti, Larsen & Toubro, Bharti Airtel, Bajaj Finserv, Tata Motors, Bank of Baroda, Ramco Cements, PVR, and Idea Forge for trading.
Chart patterns suggest the zone of 19,550-19,600 will act as a strong support for Nifty going forward. Till the index sustains above 19,550, we may witness the continuation of this strong momentum up to the level of 20,100- 20,150.
CALL at Rs 7.10
Cost of the strategy: Rs 10.4 (Rs 13,000 per strategy)
Maximum profit: Rs 24,500 If Chola Fin closes at or above 700 on May 27 expiry
Breakeven Point: Rs 680.4
Rationale: We have seen aggressive long build up in the Chola Fin Futures where we have seen 35 per cent (Prov) rise in the Open Interest with price rising by 5 per cent. Stock price has broken out from the downward slopping trendline on the daily chart by adjoining the highs of April 30 and May 7, 2021. Primary trend of the stock is positive where it is trading above all important moving averages. RSI Oscillators is showing strength in the current uptrend.
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