ALSO READTop technical calls from Prabhudas Lilladher for today's trade Three trading ideas by Vaishali Parekh of Prabhudas Lilladher Nifty will see support at 9,770 levels today, says Prabhudas Lilladher Buy Jain Irrigation, Lupin and BEL, says Vaishali Parekh Top technical calls from Prabhudas Lilladher for today's trade
NIFTY VIEW: Nifty after a short pause raced towards the 10,100 mark clearing the pessimism that was hovering in the minds of the market players a day before and now is near to retest the peak level of 10,178 and chances of giving a breakout cannot be ruled out. However, the support for the day is seen at 10,050 while resistance is seen at 10,140. BUY GULSHAN POLY CMP: Rs 85.85 TARGET: Rs 98 STOP LOSS: Rs 81 The stock after making a double bottom formation in the daily chart has given a breakout above the previous peak of Rs 88.90 and has now maintained above the significant 200-DMA and is showing potential and strength for further rise in the coming days. The RSI has given a trend reversal recently and is on the rise signifying a positive bias in the stock. With good volume participation witnessed, we recommend a buy in this stock for an upside target of Rs 98 keeping a stop loss of Rs 81. BUY BEL CMP: Rs 169.35 TARGET: Rs 182 STOP LOSS: Rs 160 The stock has made a higher bottom formation in the daily chart and is gradually on the rise indicating a positive bias with potential to rise further and now with a positive candle indications are pretty good for a bounce from here on to scale the previous peak level of 181 and a breakout can be anticipated.
With the RSI showing a positive rise with trend reversal, we recommend a buy in this stock for an upside target of Rs 182 keeping a stop loss of Rs 160.BUY AXIS BANK CMP: Rs 525.10 TARGET: Rs 560 STOP LOSS: Rs 505 The stock has been moving in the rangebound zone of Rs 480 and Rs 525, and has maintained above the significant 200-DMA. We anticipate a breakout above the 525 to scale fresh targets. The RSI indicator is on the rise and has shown a positive bias. With good volume activity witnessed, we recommend a buy in this stock for an upside target of Rs 560 keeping a stop loss of Rs 505. Disclaimer: The analyst may have positions in any or all the stocks mentioned above.