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Tech View: Nifty has near support at 5,215

Rex Cano/New Delhi 07 Sep 12 | 08:38 AM

Nifty
Last close: 5,238


The NSE Nifty continues to languish at the lower end of the Bollinger Band on the daily charts. The index has near support around 5,215, below which it can slide to 5,160. On the other hand, the index needs to break above 5,270 for fresh upside momentum. On Friday, the index is likely to seek support around 5,220-5,210, while face resistance around 5,255-5,265.

Aditya Birla Nuvo
Last close: Rs 752
Target: Rs 775


Aditya Birla seems to be taking support around Rs 745-odd levels. The Stochastic Slow has turned positive for the stock in the near term. Look to buy the stock closer to support level for an upside target of Rs 775.

Cairn India
Last close: Rs 332
Target: Rs 322


Cairn India has closed below its short- and long-term moving averages for the second straight day. The stock is likely to trade with a negative bias as long as the stock trades below Rs 335. On the downside, the stock can slip to Rs 322.

DLF
Last close: Rs 193
Target: Rs 185


The momentum seems to have turned negative for DLF in the near term. The MACD and Stochastic Slow both are negative on the daily charts, and moving averages also indicate a downtrend. Look to short the stock on rise closer to Rs 198-odd levels. On the downside, the stock can slide to Rs 185.

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

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