JSW Steel, Vedanta Could Become Good Bets: Shrikant Chouhan

Shrikant Chouhan, technical analyst at Kotak Securities, says the Nifty can rise to 8,050, which will act as a major resistance. Unless Nifty crosses 8,050, it is going to be in a range, he added. (Watch)

Stock Talk:

State Bank of India: It is a buy even at current level. Bank Nifty is heading towards 18,000-18,500; SBI should rise to Rs 255-Rs 260 in next few weeks.

LIC Housing Finance has formed an inverted head and shoulder pattern on daily charts. Volume-based activity on daily chart indicates higher levels in coming weeks.

HDFC is continuously forming a triangle kind of formation at the bottom of the rally. Buy the stock at current levels.

JSW Steel & Vedanta: Metal stock have become a victim of global selloff, but the way these stocks have recovered from lows and are sustaining gains, one can look at buying these stocks. If the selloff in global markets stabilise at current levels, then one can buy these shares.