2 high inventory suggestions from Mileen Vasudeo

May 27, 2023 | blog

“We are of the opinion that initial resistance is at 18650 levels once that level has been crossed then you are going to see the prior all-time high and then it can extend its gain further,” says Mileen Vasudeo, Arihant Capital Markets.

Where do you see Nifty headed within the model new collection?
If you see Nifty was getting caught within the vary of 18400 on the decrease facet.But there was a robust assist at 18100 ranges every time Nifty used to go very shut and bounce again very sharply and we have now seen a really robust session on Friday which clearly signifies sure that Nifty is heading to the prior all-time excessive and even it could possibly prolong its acquire additional.

We are of the opinion that preliminary resistance is at 18650 ranges as soon as that stage has been crossed then you’ll see the prior all-time excessive after which it could possibly prolong its acquire additional.

What about Bank Nifty? It is simply 150 factors away from its life excessive ranges. It has managed to tease and elude that stage of 44151.80 earlier. Do you see it taking place within the coming week?
Yes, within the subsequent few weeks we might see that Bank Nifty would make a contemporary all-time excessive and might prolong its features in the direction of say 44500 to 44800 ranges. One has to commerce with optimistic bias in Bank Nifty.

If I needed to ask you in your high shares suggestions what could be these?
I’ve chosen two shares; one is VRL Logistics, at present buying and selling at round Rs 746, one can maintain a cease lack of Rs 690. On the upper facet we count on the inventory to maneuver in the direction of Rs 840 to Rs 890 ranges.

The second inventory is Tata Elxsi. It has given a robust base formation and at present it’s buying and selling at Rs 7460. Keep a cease lack of Rs 7200. On the upper facet we count on the inventory to check the degrees of 7900-8200 in a few weeks time.

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