MARUTI: – Maruti Suzuki India Ltd. (NS:) share price was up 227.20 points or 3.51% at 6706.85 on the last trading session of the week. Technically, Maruti has corrected from 7500 to almost 6500 levels. It looks it has built a base near 6500 in the short term and in addition to this, it has made a long green candle at the lower end of the Bollinger band. So going by the trend, bullish momentum is showing strength in the counter. So long positions can be made at 6600 -6700 levels for the target price of 6900 -7200 level in the short term with a strict stop loss placed at 6400 levels.
IBULHSGFIN: – Indiabulls Housing Finance Ltd (NS:) stock price edge up higher 2.15% or 15.25 points to 723.20 in the last trading session. Technically, it has corrected from 920 to almost 650 level. It looks it has built a base near 650 level in the short term and has also closed above 20 days moving average. The price action has gained bullish momentum and has tagged the upper band. So a long position can be initiated at the current level so we could add more on correction at 700-710 level for a price target of 790-850 in the short term with a strict stop loss placed at 640 level.
PC JEWELLER: – PC Jeweller Ltd (NS:) stock price dropped on the fifth straight trading session by 6.55 point or 6.16% to 99.85. The stock price fails to hold above the resistance level of 132, corrected almost 33 points in the last week. The stock price falls below the support line and in addition to this, it has also closed below the 20 DMA. The stock is in the bear’s grip and opens for more downside in the coming time. So we advise selling on the rise in PC Jeweller on Monday near 102-105 levels with stop loss at 110 for the price target of 90 and 82 levels in the near term.
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