The latest analysis and commentary by stock market guru Vishal Malkan on what is moving the markets today.
He also spoke at length on Vedanta, and Federal Bank.
Recommending stock specific ideas, Malkan said, “I am looking at couple of stocks especially in the metal sector where I think Vedanta looks very interesting and it has made a bullish pattern on daily as well as weekly charts in the last couple of days. I think Rs 197 stop loss or Rs 196 stop loss, one can look at a target of Rs 214 and Rs 220 in the next few trading sessions for Vedanta.”
“Federal Bank has broken a long term trend channel on the daily chart and it has broken above that with a good volume and momentum in the last couple of trading sessions and it is sustaining above that which gives me a good target. So, I am looking at buying Federal Bank with a stop of Rs 87 for target of Rs 102-105,” he added.
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