Stock recommendations from Anand Rathi: Buy SRF, Coromandel International

Trading calls by Jay Anand Thakkar, CMT -Assistant Vice President - Equity Research, Anand Rathi Shares and Stock Brokers

NIFTY: BUY | TGT 12,000 | SL: 11,880

The Nifty closed in the positive territory on Monday, and with that, it seems to have completed a three wave falling structure. Now, even if the fall is a complex corrective pattern a minimum retracement of 50 per cent can’t be ruled out i.e. till 12,020. The Index has formed a long legged Doji which indicates some pause in the ongoing correction; hence, till the lows of the same isn’t broken the bounce can’t be ruled out, so one can buy Nifty for the target of 12,000 with a stop loss of 11,880.

SRF: