Benchmark NSE Nifty was trading almost flat in the morning deals on Friday as traders remained on sidelines ahead of US non-farm payrolls data, which will be released later on Friday. At 10.44 am, Nifty was trading 2.80 points up at 8,777.45. Asian markets were mixed at this points of time, the Chinese markets were trading higher and with all eyes are on the non-farm payrolls data from US. The BSE Sensex was trading 42.89 points up at 28,465.59. Meanwhile, Guduru Rajagopal Reddy, director-marketing, Alankit Assignments gave his technical calls on Arvind Ltd, Bata India and Mahindra & Mahindra with ‘Buy’ rating.
Technical calls
Arvind Ltd (Buy)
Current market price (CMP): Rs 315.90: Target: Rs 340, Stop loss: Rs 300
Why Buy: Accumulation with significant higher volume will lead to further raise from this level.
Bata India (Buy)
CMP: Rs 538.15, Target Price: Rs 580, Stop loss: Rs 520
Why Buy: Stock’s present halt at intermediate support area will lead to strong rise.
M&M (Buy)
CMP: Rs 1,451.90, Target: Rs 1,550, Stop loss: Rs 1,400
Why Buy: Stock was at all time high range looking for strong technical breakout from this area.