Keep on reducing cost of investment
- PFC_Above 120 with a target of 124 and Stop loss of 116. It is trading in an upward trending channel.
- APOLLO TYRE_Above 190 with a target of 196 and Stop loss of 184. It has a support of 21 and 40 DMA.
- GLENMARK_Above 520 with a target of 532 and Stop loss of 510. It has given a major level breakout and is expected to further continue the rally.
- TITAN_Above 1580 with a target of 1595 and Stop loss of 1565. It is trading in an upward trending channel.
- SRF_Above 5730 with a target of 5850 and Stop loss of 5700. It has formed a support of 21 DMA and has reversed from the same.
Mumbai: Today the market closed at the highest point of the day. This was unexpected after Monday's massive decline in the US market.
Financial stocks improved as expected. Shares of Axis and HDFC helped the market close higher. The metal index closed in the negative territory after yesterday's excellent performance. The Sensex has created a big bullish Japanese candle that closed at the previous day's high.
"It is a reliable and confident close for the market and based on that we can expect the index to reach the level of 48,800 in the near term. Support would be at 48,100 and at 47,900 levels. Be specific and keep on reducing cost of investment," says Shrikant Chouhan, EVP, equity technical research at Kotak Securities.