Jay Thakkar, senior technical analyst, at Sharekhan has conveyed that, the Nifty has broken out following a month-long consolidation, on the back of good volumes. He also further added that, the Nifty should go up to levels of 8,850.
Buy Lakshmi Machine Works, the stock has given a good breakout from a descending inclined channel and upside has resumed in this stock. Buy this stock for target of Rs 4,550 with stop loss at Rs 3,980.
Buy JBM Auto: The stock's chart looks alike to Lakshmi Machine Works. Buy JBM Auto for target of Rs 310 in next 3 to 4 months with stop loss at Rs 187.
Buy Dishman Pharma: The stock is forming higher top and higher bottom formation on charts and is trading above short term moving averages. Buy Dishman Pharma for target of Rs 220 with stop loss at Rs 163.