As posted on Last Friday Nifty breaks 5440-5450 and achieves all targets till 5350 and bounces back from there. 5340/5350 will now act as a very good support , if broken expect 5260/5240. On the upside Nifty needs to cross 5480 to continue its upward march.

  
Stock View: Lakshmi Electrical (BSE)

This is a 2-year chart of Lakshmi Elec ( Bse ) and on the face of it stock is looking HOT on the charts. The stock has stiff resistance around 285/290, you can expect good moves if this is crossed in coming days. Buy Lakshmi Electrical only if it sustains /preferably closes above 285-290 with stoploss of 270 on closing basis and look for targets of 350/380 in short to medium term.

Have a nice trading day

Regards

Ankit