Buy the dip in Titagarh Rail as share price can touch Rs 2,000 in near term: Kunal Shah
Titagarh Rail, whose shares ended last week with a 17% return, remains strong, with momentum continuing to be very robust, according to Kunal Shah, Senior Technical & Derivative Analyst at LKP Securities.
“Dips should be utilised to initiate fresh positions, with strong support at Rs 1,770. The stock is likely to touch the Rs 2,000 mark in the near term, with the uptrend intact on the daily chart.”
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Nifty saw a secular uptrend during the week. What do the charts tell you about the July series?
The Nifty index experienced a strong momentum rally over the past 3-4 days, followed by some profit booking at higher levels. The immediate resistance stands at 24,200, and a sustained move above this level will confirm the continuation of the ongoing uptrend. The index remains in a buy-on-dip mode with immediate support at the 23,900-23,800 zone, and a break below this level could lead to further selling pressure towards 23,650.
What would be your trading strategy for Nifty Bank which also made new records in the week?
The Bank Nifty index has been a significant outperformer in the last week, with a bullish undertone. The index remains in a buy-on-dip mode, with immediate support at 52,000, where the highest open interest is built up on the put
