By Riyank Arora
On Tuesday, the benchmark index broke below its immediate support level of 21,675. The Nifty ended 76 points lower, while the Sensex was down by 379 points. Among sectors, Nifty Pharma and Nifty Healthcare led the rally, with the Auto Sector and Private Banks witnessing some profit booking. Technically, the market is still holding up above its major support level of 21,500 and should continue to trade on a positive note, gradually heading towards 22,000 and above.
Stock Recommendations:
DLF
BUY | CMP: 713.85 | TARGET: 800.00 | SL: 690.00
The stock has touched its crucial support of 705 in Tuesday’s trading session. With the overall trend being positive and the anchor VWAP indicating strong support around these levels, the overall risk-reward looks favorable on the buy side, with a stop loss placed slightly below the 690 mark, for potential targets of 800 on the upside.
Vascon Engineers Limited
BUY | CMP: 72.80 | TARGET: 85.00 | SL: 67.00
The stock has broken out from its narrow range consolidation and is re-testing its anchor VWAP support level of 72. With the stock continuously making higher highs and higher lows, the overall trend continues to remain positive for a potential upside towards 85 in the near term, with a stop loss placed at the 67 mark.
