Nifty is back in buying zone with high quality reversal of the nascent down trend that was getting set for last 5 trading days. 8600 is the key level, below which downside will restart. Nifty may gain 100-150 points more before stalling.
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ICICI Bank Trading – 05Aug2016
ICICI Bank stock remains in sell zone as of 05 Aug 2016. Buy zone will start above 250. The stock has a history of recovering sharply from oversold areas due to rapid short covering.
Bonus Trade: Buy Glenmark Pharma for Target 919
Here is a bonus trade for our regular website visitors. Buy Glenmark Pharma (NSE:GLENMARK) stock at current market price (INR) 829, for target 919, and 789 as Stop Loss. This stock is listed on NSE and BSE in India. This trade can give 10% gain, and is likely to play out in the coming 4-5 weeks. Following are the trade details.
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Date: 01 May 2016
Stock: Glenmark Pharma (NSE:GLENMARK)
Buy at: 829
Target: 919
Stop: 789
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There should be significant resistance/selling pressure between 919 and 959. Above 959 closing, the stock becomes a fresh buy for higher targets. Continue reading Bonus Trade: Buy Glenmark Pharma for Target 919