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Buy Ashok Leyland, Exide and Bharat Financial, says Prabhudas Lilladher

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

Vaishali Parekh  |  New Delhi 

markets, stocks, sensex, nifty, bse, nse
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Nifty view and few trading ideas by Vaishali Parekh, Research Analyst - Technical Research at Prabhudas Lilladher:
 
Nifty View:

 
Nifty has closed above the trend line and hence now 9950 would act as support level and a cross of 9960 would take Nifty to higher levels. The support for the day is seen at 9850 while resistance is seen at 9950.
  
- BUY  
CMP: Rs 847.70        
TARGET: Rs 920          
STOP LOSS: Rs 805
 
The stock has made a higher bottom formation pattern in the daily chart and has made a strong recovery with also the indicators like RSI and MACD where it has bounced back convincingly to signal a buy and with tremendous volume activity going on, we recommend a buy in this stock for a potential upside of 920 keeping a of 805.
 
- BUY  
CMP: Rs 213.30             
TARGET: Rs 226          
STOP LOSS: Rs 200
 
The stock has made a lower bottom formation like pattern in the daily chart and has recovered strongly to move above the 200 DMA which signifies strength and potential to rise further upward to scale new highs. The RSI also has made a trend reversal signaling a buy and with good volume participation, we recommend a buy in this stock for an upside of 226 keeping a of 200.
  
- BUY  
CMP:  Rs 105.30          
TARGET: Rs 115          
STOP LOSS: Rs 98
 
The stock has been in a trending mode and now has made a higher bottom formation pattern in the daily chart and is poised to rise further upward to reach new heights. The indicators have been favourable and looks attractive for an up move in the coming days. With also good volume participation supporting our positive bias, we recommend a buy in this stock for an upside 115 of keeping a of 98.
 
Disclaimer: The analyst may have positions in any or all the stocks mentioned above.

First Published: Fri, August 18 2017. 08:09 IST
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