TOP SECTORS:
Bullish Sector: PHARMA, PSUBANKS, METALS
Bearish Sector: MEDIA
STOCKS TO WATCH:
BULLISH STOCKS (Long Build-up+ Short Covering): NYKAA, BAJAJ FINANCE, CHOLAMANDALAM FINANCE, BRITANNIA, M&M, TD POWER SYSTEMS, INDUS TOWER.
BEARISH STOCKS (Long Unwinding + Short Buildup): NYKAA, BAJAJ FINANCE, CHOLAMANDALAM FINANCE, BRITANNIA, M&M, TD POWER SYSTEMS, INDUS TOWER.
Our chart of the day is bearish on IRCTC, and ETERNAL on any early excessive intraday strength with an interweek/Intermonth perspective.
The 1 stock to BUY right now:
Buy M&M (CMP 3664): Buy at CMP. Stop at 3431. Targets 3721/3809. Aggressive targets at 4000. (Interweek Strategy). Rationale: Momentum Play. Signaling a massive breakout on the upside. Key interweek support 3556. Major hurdles only at 3721 mark. The sequence of higher high/low is intact on all-time-frames. 200-DMA at 3122.
Happy Trading Day ahead
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