Nifty
Last close: 5,362

The Nifty ended higher for the fifth straight day, up 0.7 per cent at 5,362 on the back of relentless buying support from the FIIs. The foreign institutional investors have so far this year invested over Rs 15,000 crore. The momentum oscillators on both the daily and weekly charts continue to favour the bulls. Look to trade with a positive bias as long as the Nifty sustains above 5,255. On Tuesday, the index could face resistance around 5,385-5,400, while seek support around 5,335-5,320.

Bank of India
Last close: Rs 344
Target: Rs 325

Bank of India has been struggling along its 200-day DMA and 200-WMA which is around Rs 356 and Rs 351, respectively. With the momentum oscillators showing signs of tiredness, one can look to short the stock with a stop at Rs 356. On the downside, the stock can drop to Rs 325.

Glaxo
Last close: Rs 1,980
Target: Rs 2,150

Glaxo seems to be on the verge of a positive breakout. Traders should watch the Rs 1,990 level closely. As and when the stock firms up above Rs 1,990, one can consider fresh longs with at Rs 1,950-odd levels for an upside target of Rs 2,150.

SAIL
Last close: Rs 107
Target: Rs 116

SAIL has been trending upwards along with its higher end of the Bollinger Band for the last four weeks. One can continue to trade the stock with a positive bias, with a near stop at Rs 104 on closing basis. On the upside the stock likely to target Rs 116.

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