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TATA MOTORS CMP: 453| RECO: BUY| TARGET: 490| STOP LOSS: 428 The stock is trading around prior swing low and also at 50 percent Fibonacci Retracement level of prior mega up-move (Rs266-598), which is placed around Rs 430. As per the stock’s historical price movement, we believe that level (Rs430) will once again work as key reversal point and help it to recover prior losses. Oversold Stochastic & RSI are indicating a lack of selling interest in the stock at the current juncture. As per the current daily set-up, we believe that stock will soon reverse to recover prior losses after taking support at around Rs 430.
LUPIN CMP: 1459| RECO: BUY| TARGET: 1560| STOP LOSS: 1395 The stock is making higher bottoms on daily charts in the past few months. The sector also has seen sharp up move and we believe the stock risk reward is very favorable. The key technical indicators and RSI are showing signs of reversal on the upside with strong volume in the past few days.Poised for a breakout from current levels.
ADANI PORTS CMP: 297| RECO: SELL| TARGET: 270| STOP LOSS: 317 The stock reversed forming Double Top pattern around Rs 315 and later slipped to four-weeks closing low. Negative cross-over in Stochastic & RSI are signaling about weakness in the stock. We believe the stock will remain under pressure for the short-term and will find support around medium to long-term averages.
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