A SMALL DIP NEEDED TO GO LONG AGAIN...

The market has posted a fifth consecutive positive weekly close.The valuations tend to get stretched around these levels and most Large Cap stocks are losing steam. However, the advance tax figures will be out in the coming week and can change the outlook for the short term.Stock specific action will be the flavour of the week

Go long only on closing above 5180 or around 5100 with a stop loss below 5080.

GTL INFRA has turned from important supports and is a good risk reward trade. The stock can be bought with a stop loss of 40.50 for a target of 44.5 and 50. Add more on closing above 45.

There is some buzz in RNRL which also is a good risk reward trade around current levels. Its recent bottom was around 61 and the stock can give a good bounce. Buy with a stop loss below 60 for a target of 65/70.

Have a great trading week,

Regards,

Rahul T.