Nifty outlook and stock pick by HDFC Sec: Buy UltraTech Cement, Sanofi

NIfty has been forming higher tops and higher bottoms on the daily charts. Nifty is placed above 20,50,100 and 200 days moving averages, indicating bullish trend on all time frames

Hold Nifty longs with 11,200 Stoploss

Nifty has registered the highest level of recent rally at 11,373. The index has been forming higher tops and higher bottoms on the daily charts. Nifty is placed above 20,50,100 and 200 days moving averages, indicating bullish trend on all time frames. Holding Nifty longs with trailing stoploss would be better strategy. It is advisable to hold Nifty longs with 11,200 stoploss. 

BUY ULTRATECH CEMENT (3,972) | Target: Rs 4,350 | Stop-loss: Rs 3,800
 

The stock has witnessed running correction from the recent high of Rs 4,287. Primary trend of the stock has been bullish as