We would
suggest two buy calls. ๐๐ป
BUY MARUTI 100 SHARES 8671 TARGET 8738/8824 ๐
MARUTI:-
Maruti is 0.08% from the Autopack. This is a name that's returning to a
kind of momentum of its own. The stock finds a good base at Rs 8,300.We've
seen multiple fixes below this type of support points for Maruti. That could
likely lead to a case where we could see the stock rally higher, or at least
bounce back into the mid-rally once auto stocks are allowed to rally again. Rs
9,750 could be a potential target area for Maruti on such a time frame, I have
marked Rs 8,300 as a strong support zone and that could be a stop loss for this
trade.
BUT
SBICARD 500 SHARES 871 TARGET 892/907 ๐
SBICARD:-The second stock
is from the mid-caps and is a buy on SBI Cards. It is an interesting pick as
the stock has corrected from Rs 950-980 to Rs 870-880 where it is
currently
trading over the past three months. But the price pattern for SBI cards is very
bullish in the medium to long term.We would expect the stock to potentially see
a strong upward move over the next three to six months. Rs 1,100 could be a
potential target area for SBI charts from current levels and the stop loss for
this trade could be Rs 772.
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