Nifty view & stock calls by Anand Rathi: Buy Infosys, ICICI Prudential Life

The stock of Infosys is making a higher top and higher bottom pattern on the daily chart and reclaimed its long term moving average of 200-DMA which is placed at 708 levels

BUY NIFTY | TARGET: 10,350 | STOP LOSS: 10,040

The NIFTY index continued its positive momentum and also reclaimed its 100-DEMA which is currently placed at 10,042 levels. If we take the Fibonacci retracement of the entire recent fall from the top, then the 61.8 per cent retracement which is also called the golden ratio, is coming around 10,400 levels which will now act as immediate resistance. Now, as long as Nifty trades above 10,040 levels we can expect the last leg of a pullback towards 10,400-10500 zone. Thus, to play this pullback we advise aggressive traders to initiate a long