Birla Corp, LTTS: Here's why HDFC Securities is bullish on these stocks

Vinay Rajani of HDFC Securities recommends that traders hold on to their long positions with 17,640 stoploss for the Nifty.

The Nifty has been rising for the last three consecutive sessions. Form the recent swing low of 16,410, it has recovered 9 per cent towards 17,827. By crossing 17,766, the index has surpassed the 61.8 per cent retracement of the entire downswing seen from 18,604 to 16,410. This development has negated the bearish developments, which were seen on the medium term chart previously. Nifty has now got good potential to reclaim a level above 18,000 and then towards a new all-time high. Support for the Nifty has now shifted to 17,640 odd levels. Traders should hold on to their long