A break above 8,000 on the Nifty has led to a change in outlook for domestic stock markets, says Aditya Agarwal, head of technical research at Way2Wealth. Fresh long positions are getting built and overall structure for markets is looking bullish, he added. Mr Agarwal expects the Nifty to face some pressure around current levels, but says the index will break above 8,350-8,400 in the June series. (Watch video)
Buy Crompton Greaves: The stock was consolidating in a range of Rs 56 to 63 and broke out of this range on Monday. Fresh long positions have got built in the stock, indicating more upside.
Buy Havells India: The stock staged a one way up move from Rs 265 to 370 and on every decline it is witnessing buying interest. The structure remains bullish and investors can buy this stock on dips around Rs 360-365 for target of Rs 395-405.
Avoid Tata Motors: The stock faces resistance around Rs 425-430. If it breaks and sustains above Rs 425-430 then it can move towards levels of Rs 475-480. Investors who are holding long positions should book profits and fresh buying is advised above Rs 430 for target of Rs 480.
Buy Larsen & Toubro: It broke above its resistance of Rs 1,300-1,350. Structure for L&T remains bullish and it can co up to levels of Rs 1,600-1,620 in short term. Investors can buy this stock with stop loss at Rs 1,440 for target of Rs 1,620.
Short BHEL: The stock looks weak on charts and it is in a clear downtrend. If the stock breaks Rs 118 then it can test levels of Rs 110. It should be bought only if it crosses above Rs 135 on the upside. Investors can go short on this stock for target of Rs 110.
Buy Tech Mahindra: Bullish momentum is likely to continue in this stock. Investors can look to buy this stock on dips around Rs 520-510 with stop loss at Rs 480 for target of Rs 580 and if it breaks above Rs 580 it can move up to Rs 640.
Buy SKS Microfinance: The stock looks good on charts. Investors can buy for target of Rs 690-720 with stop loss at Rs 590.
Buy L&T Finance Holdings: The stock has moved from Rs 50 to 78-79. It faces resistance around Rs 80-82 and if it breaks above this level then it can go up to Rs 95-100. Investors can buy with stop loss at Rs 72.