It was a day of absolute strength for the markets. The bulls were back with vengence they not only reversed yesterday's loses but added more weight to close near the highest point of the day. Sensex added over 1150 points and Nifty closed with gains of around 350 points. It was the biggest single day absolute gain for Sensex.
On a weekly basis, Nifty closed down 320 points after swinging around 910 points Sensex down over 600 points after swinging over 3,000 points.
Technical Analyst Ashwani Gujral is positive on Syndicate Bank.
This is how Ashwani Gujral views stocks on board.
On Syndicate Bank:
Syndicate can be bought, currently it has a support at Rs 87, which can be used as a stop. In case interest rates do decline, I think it could easily retest its previous high of about Rs 130.
Source: Moneycontrol.com
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