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Ten stocks to go long on: Stocks trading above 200-DMA with strong fundamental story
The Nifty crossed the crucial 200-day moving average (DMA) on Monday for first time in eight months, suggesting the bullish momentum could last for a while. When an index or a stock closes above the 200-DMA, it is said to be in a long-term uptrend. "Nifty crossing the 200-DMA is positive for the markets," said Nagaraj Shetti, technical research analyst, HDFC Securities.
"We expect the uptrend to continue to 8,000
level in the immediate term, with subsequent index target level at 8,350." Shetti expects shares such as InfosysBSE 5.70 %, Hero Moto, M&M and others that have broken the 200-DMA to clock further gains. "We expect Nifty to fi nd some resistance at 7,972, while derivatives data indicate maximum call option build up at 8,000 levels, which can become resistance for the markets in the immediate term," said Hemant Nahata, head of derivatives at India InfolineBSE 0.14 %. "Stocks such as Infosys, ..
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