Key Points
That is the immediate target that I am playing with if one is looking to go long, at current levels maybe the risk on the downside will be slightly higher..
I am slightly more bullish on the Bank Nifty because of the fact that it has underperformed for the past couple of trading sessions and now it seems like it is getting ready for an outperformance and private sector banks are something that I am betting big on..
Even at current levels, if one wants to initiate fresh long positions in Bank Nifty, they can do so despite the fact that it has witnessed a good gap up opening in todays session..
So, at current levels, one should look to go long on Mahindra & Mahindra Finance, look for a target of 315 on the upside, with a stop loss at 264 on the downside...
Again, as we speak, the stock is making new high but again at current levels, one can look to go long for a target of Rs 985 and if 985 is taken out, this stock can test levels of Rs 995 as well with a stop loss at 920 offers good risk-to-reward ratio in PEL as well..
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