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Buy Apollo Tyres, Aptech and Future Enterprises: Prabhudas Lilladher

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

Vaishali Parekh  |  Mumbai 

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

The view remains corrective, though on intraday basis we may keep seeing some pull back rally. Only a decisive move in 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.
- 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 of 1200 keeping a of 1040
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 of 45.50 keeping a of 38.50.
- 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 of 280 keeping a of 240.

First Published: Wed, August 23 2017. 08:07 IST