On the downside, the Nifty may seek support around 5,140

Nifty
Last close: 5,199

The bulls were back with a bang as the Nifty surged over 2 per cent to 5,199. The index has once again closed on par with its 200-day DMA. However, the momentum oscillators at this point of time are indicating mixed reactions. The MACD is in favour of an up move, while the Stochastic Slow has turned negative - which indicates limited upside. Overall it seems that the Nifty is likely to face stiff resistance around 5,250. On the downside, the index may seek support around 5,160-5,140.

Educomp
Last close: Rs 216
Target: Rs 228

Educomp is likely to display positive trend in the near term. The stock is currently trading above its short-term moving average of Rs 211. Look to buy with a stop at Rs 211, and add more above Rs 220. On the upside, the stock can jump to Rs 228.

HPCL
Last close: Rs 293
Target: Rs 305

HPCL seems set to test its 20-WMA in the near term. The stock has formed a strong base around Rs 281. Look to buy on dips with a stop at Rs 281. On the upside the stock is likely to target Rs 305.

Hindustan Unilever
Last close: Rs 379
Target: Rs 335

Hindustan Unilever has given a downside breakout on the daily charts. The stock is likely to remain under pressure as long as it trades below Rs 395-level, hence the strategy would remain to sell on rise with a stop at Rs 395. The selling may accentuate below Rs 374, and on the downside the stock can slide to Rs 335 in the short-to-medium term.

Disclaimer: The author of this article has no financial interest in any of the stocks mentioned above.