Buy Apollo Tyres, Aptech and Future Enterprises: Prabhudas Lilladher

Nifty view and few trading ideas by Vaishali Parekh of Prabhudas Lilladher

Nifty view and few trading ideas by Vaishali Parekh, Research Analyst - Technical Research at Prabhudas Lilladher:

 

Nifty View:

The view remains corrective, though on intraday basis we may keep seeing some pull back rally. Only a decisive move in Nifty past 9,850-9,930 levels would change the scenario. The MACD & RSI indicators in the daily chart still indicate a downward bias, however, the support for the day is seen at 9,720 while resistance is seen at 9,810.

 

APOLLO HOSPITALS - BUY     

CMP: Rs 1,098.50      

TARGET: Rs 1,200       

STOP LOSS: Rs 1040

 

The stock has given a very steep correction and now has bounced back with decent volume participation making a hockey stick candle pattern in the daily chart to indicate positive bias. The RSI has hit oversold zone and now is making a recovery attempt with a trend reversal signaling a buy. We anticipate further up move in the coming days and hence we recommend a buy in this stock for an upside target of 1200 keeping a stop loss of 1040

 

FUTURE ENTERPRISES - BUY   

CMP: Rs 41.25     

TARGET: Rs 45.50      

STOP LOSS: Rs 38.50 

 

Recently the stock has made a higher top higher bottom formation in the daily chart and now has given a breakout above the previous peak to signify further potential and strength for more upward rally. The RSI indicator is on the rise so also is the MACD, thus supporting our view of a positive bias. We recommend a buy in this stock for an upside target of 45.50 keeping a stop loss of 38.50.

 

APTECH - BUY    

CMP: Rs 256.30       

TARGET: Rs 280    

STOP LOSS: Rs 240 

 

The stock has given a breakout above the 250 levels after a long time which was actually turning out to be a very strong resistance level and further scope for scaling fresh new heights is wide open. The indicators are all favorable, supporting our positive bias and potentially looks attractive for further upward move. We recommend a buy in this stock for an upside target of 280 keeping a stop loss of 240.