Allahabad Bank - Allahabad bank on intraday chart has given a break-out from an inverted head and shoulder formation with relatively good volumes. Immediate resistance is placed at Rs 164.5 levels beyond which the possible target comes in the vicinity of 171-172 levels.
Reliance Capital - BUY Target Rs 810 Stop loss Rs 740. Reliance capital has been trading well within its rising channel with good volumes. Positive reversal on RSI, with RSI and its derivatives also suggest that the current uptrend remains intact.
Cipla - SELL Target Rs 315 Stop Loss Stop loss Rs 343 Finding Resistance at Rs 350 levels from the downword trend line, Cipla has breached the rising channel support of Rs 334. On intra-day chart, it has breached neckline support of a bearish head and shoulder formation.
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