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Buy BPCL, DCB Bank and Madhucon Projects, says Prabhudas Lilladher

Nifty outlook and key trading ideas by Vaishali Parekh, Research Analyst - Technical Research at Prabhudas Lilladher

Vaishali Parekh  |  New Delhi 

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Nifty outlook and key trading ideas by Vaishali Parekh, Research Analyst - Technical Research at Prabhudas Lilladher:
 
NIFTY VIEW:

Market witnessed choppiness with a slight weak opening breaching the support of 10,080 for some time however bounced back to close above 10100 levels. The support for the day is seen at 10,070 while resistance is seen at 10,160.
 
- BUY
CMP: Rs 33.50  
STOP LOSS: Rs 25 
TARGET: Rs 50 - 60
 
Madhucon project is showing bottoming out at 25 levels after a corrective move from 60 levels, the RSI  is supporting for an upmove towards 50-60. We recommend a in this stock keeping a of 25 for an upside of 50 – 60.
 
- BUY 
CMP: Rs 185 
STOP LOSS: Rs 178 
TARGET: Rs 200 – 205
 
The stock has been moving around in a consolidation phase and with the RSI indicator bouncing back from its oversold zone, has indicated a positive signal. We recommend a in this stock with a promising upside of 200 – 205 keeping a of 178.
 
- BUY
CMP: Rs 500 
STOP LOSS: Rs 470 
TARGET: Rs 550 - 560
The stock has given a bullish candle pattern after a short consolidation period and we anticipate it to give a return of around 7% -8% from here on. The RSI indicator has also given a signal by reversing its trend. We recommend a in this stock keeping a of 470 for an upside of 550 - 560.
 
Disclaimer: The analyst may have positions in any or all the stocks mentioned above.

First Published: Wed, December 06 2017. 08:27 IST
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