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NIFTY: SELL
TARGET: 11,700
STOP LOSS: 11,955
Nifty closed in the negative territory in the last trading session and it has broken the uptrend line support. The Index, however, took a minor support near 11,829 levels which can provide some relief rally to the bulls. Still, the price structure is overall negative. Hence, the ideal strategy is to sell for the target of 11,700 with a stop loss of 11,955.
CHAMBAL FERTILIZERS: BUY
TARGET: Rs 215
STOP LOSS: Rs 167
The stock has provided a breakout from the downward sloping parallel channel and it has also provided a buy crossover on its daily, weekly and monthly momentum
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