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Exit trading longs below 14,190 in Nifty: Vinay Rajani, HDFC Securities


Nifty has been trading in the downward sloping channel on the daily charts. The current level of Nifty is placed very near to the support derived from this channel. Any close below 14,190 would be considered bearish and trading longs in Nifty should be squared off in that case. On the higher side, 14,560 would play a crucial role as resistance. The sustained level below 14,190 could drag Nifty towards 13,600-odd levels.
Stock Recommendations
Buy Wipro (469): | Target price: Rs 510| Stop-loss: Rs 443
Wipro has been the best performing stock in the IT sector over the last couple of weeks. The stock recently surpassed the previous top resistance of 452 on the daily chart with fair volumes. It also registered a new all-time high above Rs 356. The stock is placed above all important moving averages, which indicates bullish trend on all time frames. ....

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BoB, SBI Life: Two stocks Vinay Rajani of HDFC Securities is bullish on


The index witnessed profit booking in the last hour of the trade on Tuesday, February 9, 2021. Nifty ended with a minor loss to close at 15,109. Nifty, Bank Nifty and Financial Nifty indices have been forming candle with the small body for the last three consecutive sessions, which indicates that bullish momentum is getting lost.
Post Budget, markets have registered a sharp rally and still, there is no sign of reversal seen as of yet. Nearest support for the Nifty is seen at 5 days EMA which is placed at 14,929, and unless that is breached on a closing basis, the trend should be considered bullish only. On the upside, Nifty faces resistance at 15,470 which happens to be 161.8% retracement of the entire fall seen from January 2020 (12,430) to March 2020 (7,511). ....

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