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Nifty outlook & two stock ideas by Vinay Rajani of HDFC Securities

Hero MotoCorp's stock has broken down below the last six week's price consolidation

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Vinay Rajani Mumbai
Nifty fell for the third consecutive session on Tuesday to close at 15,622. In these three sessions, Nifty has lost almost 400 points, while Bank Nifty has lost more than 1,600 points. Nifty has reached very near to its 50 days EMA, which could provide support at 15,550 odd levels. However, on the upside, 15,700-15,750 would act as strong resistance in days to come. It would be advisable to utilise the resistance levels to initiate fresh short sells.

Buy TCS (Rs 3,203): | Target Rs 3,360 | Stop loss: Rs 3,103

The stock has been finding support around Rs 3,150

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