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Nifty outlook & stock picks by Nilesh Jain of Anand Rathi: Buy FDC, Cyient

The momentum indicator for FDC has reversed from the overbought territory which hints of further positive momentum in the counter

The stock has provided a breakout from a falling channel on the daily chart

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The stock of Cyient has provided a breakout from a falling channel on the daily chart

Nilesh Jain Mumbai

2 min read Last Updated : Sep 15 2020 | 7:54 AM IST

BUY NIFTY | TARGET: 11,550 | STOP LOSS: 11,320

As expected the Nifty index reached our short term targets of 11,550 levels on Monday. Earlier, it negated the formation of a lower top and lower bottom formation on the daily chart and also reclaimed its 21-DMA which is providing immediate support. The momentum indicators and oscillators on the weekly scale are very well on buy mode. Hence, one can re-initiate the long position with a stop loss of 11,320 levels for a pullback towards 11550 levels.

BUY SIEMENS | TARGET: Rs 1,300 | STOP LOSS: Rs 1,200

The counter is making a higher

Topics : Stock calls Markets Nifty Outlook Market technicals FDC cyient Siemens

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