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Nifty outlook and technical calls from Prabhudas Lilladher

Few trading ideas by Vaishali Parekh, Research Analyst - Technical Research at Prabhudas Lilladher

Vaishali Parekh  |  Mumbai 

Photo: Shutterstock
Photo: Shutterstock

Few trading ideas by Vaishali Parekh, Research Analyst - Technical Research at Prabhudas Lilladher:
 
Outlook


has kept itself well above 10,000 levels, the next move could be marginally higher from here or maybe consolidation, the near term support continues to be 9,960 while for Bank the near term support lies at 24,700.
 
SHRIRAM TRANSPORT FINANCE - BUY     
CMP: Rs 1,017     
TARGET: Rs 1,125         
STOP LOSS:  Rs 965
 
The stock has been taking support at around the 960 levels at  regularly intervals and it has produced a bullish candle closing above the 200 DMA level. The RSI has made a steep rise indicating strong uptrend with tremendous volume participation. We recommend a in this stock for an upside of 1125 keeping a of 965.
 
- BUY     
CMP: Rs 312.50     
TARGET: Rs 338       
STOP LOSS: Rs 298
 
The stock has been gradually on the rise and now has given a big positive candle in the daily chart to give a breakout above the previous peak of around 310 levels. The indicators are all favourable and we anticipate a positive up move in the coming days with positive bias. With good volume activity witnessed, we recommend a in this stock for an upside of 338 keeping a of 298.
 
CUMMINS INDIA - BUY     
CMP: Rs 987.75       
TARGET: Rs 1,070       
STOP LOSS: Rs 950

The stock has made a higher bottom formation in the daily chart and the trend is in a positive bias with much potential on the upper side. We anticipate the stock to give a breakthrough above the 1045 levels and along with rising volume and with favourable factors supporting, we recommend a in this stock for an upside of 1070 keeping a of 950.
 
Disclaimer: The analyst may have positions in any or all the stocks mentioned above.
 

First Published: Tue, August 01 2017. 08:18 IST
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