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Buy India Cements, Apollo Tyres and BPCL: 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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outlook and key trading ideas by Vaishali Parekh, Research Analyst - Technical Research at Prabhudas Lilladher: VIEW: has given a good bounce getting the daily trend up while weekly still continues to be down. Volatility index too has retraced where further correction for now seems unlikely. The support for the week is seen at 10080 while resistance is seen at 10460. BUY INDIA CEMENTS CMP: Rs 174.40 TARGET: Rs 192 STOP LOSS: Rs 164 The stock has made a triple bottom formation in the daily chart and has bounced back with a huge positive candle pattern and looks poised for further upward rise in the coming days. The RSI has regained from its low and has indicated a trend reversal thus signaling a buy. With good volume activity witnessed, we recommend a buy in this stock for an upside of 192 keeping a of 164 BUY APOLLO TYRES CMP: Rs 247.90 TARGET: Rs 265 STOP LOSS: Rs 236 The stock has taken support at the significant 200 DMA which lies at 238 levels and has bottomed out there to regain strength with a reversal indicated.

The stock looks promising and we anticipate it reach the peak level of 260 and scale further upwards. The RSI also has bounced back and has shown a positive bias signaling a buy. With good decent volume participation witnessed, we recommend a buy in this stock for an upside of 265 keeping a of 236 BUY BPCL CMP: Rs 514.45 TARGET: Rs 545 STOP LOSS: Rs 492 The stock has been making a series of higher bottom formation pattern in the daily chart and has maintained an upward trend in the recent past. The stock has been in consolidation period and now has indicated a positive candle with a positive bias in the daily chart. The MACD also has shown a trend reversal and thus support our view of a buy in this stock. We recommend a buy in this stock for an upside of 545 keeping a of 492. Disclaimer: The analyst may have positions in any or all the stocks mentioned above.

First Published: Mon, December 11 2017. 08:29 IST
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