Technical calls from HDFC Securities: Buy GSPL, Navin Flourines

Technical calls from Vinay Rajani, Technical & Derivatives Analyst, HDFC securities.

Remain Cautious till Nifty trades below 12180; Midcaps to outperform

Nifty has formed inside bar and bullish “Harami” candlestick pattern on the daily charts. Implications of these patterns are reversal of the short-term trend with subject to violation of either the high or low of the pattern on the closing basis. These patterns indicate that any level above 12,180 would negate bearish developments and level below 11,974 would lead to further fall towards 11,800 support.

BUY GSPL (Rs 236.6): | Target: Rs. 254 | Stop-loss: Rs 222

The stock price has registered fresh all-time highs. Bullish Cup and Handle breakout with rising