ALSO READNifty outlook and trading ideas from Prabhudas Lilladher for today's trade Support for Nifty is seen at 9800, resistance at 9900: Prabhudas Lilladher Nifty outlook and few trading ideas by Prabhudas Lilladher Buy Indiabulls Housing Finance, HDFC, says Prabhudas Lilladher Nifty outlook and top stock recos by Prabhudas Lilladher for today's trade
Nifty outlook and few trading ideas by Vaishali Parekh, Research Analyst - Technical Research at Prabhudas Lilladher: NIFTY VIEW Market was trading almost flat throughout the session and the last final hour saw some profit booking to see the indices Nifty and Sensex to close in the mild red erasing the early gains. The support for the day is seen at 10,380 while resistance is seen at 10,500. LIC HOUSING FINANCE – BUY CMP: Rs 569.50 STOP LOSS: Rs 540 TARGET: Rs 600 The stock has made a good correction from around 675 price to consolidate near the 536 levels which is forming a good support level.
The stock has made a good recovery with huge volume participation and with RSI indicator on the rise, we recommend this stock for a Buy keeping a stop loss of 540 for an upside target of 600 SADBHAV INFRA - BUY CMP: Rs 145.05 STOP LOSS: Rs 135 TARGET: Rs 160 The stock after making a higher bottom formation has recovered to bounce back to its previous peak level of around 150 and is on the verge of a breakout with increasing volume participation. Also with the positive RSI indicator supporting the upward move, we recommend to Buy this stock for an upside target of 160 keeping a stop loss of 135. LARSEN & TOUBRO – BUY CMP: Rs 1,230.15 STOP LOSS: Rs 1,175 TARGET: Rs 1,350 The stock has been consolidating for some time at around 1180 to 1220 levels and now it has given a spurt with a positive candle pattern accompanied with good volume. The RSI indicator has been on the rise, we recommend a buy in this stock for an upside target of 1350 keeping a stop loss of 1175 Disclaimer: The analyst may have positions in any or all the stocks mentioned above.