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Nifty outlook and top trading ideas by Prabhudas Lilladher for today

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

Vaishali Parekh 


VIEW touched 10,600 levels but wiped off the gains and with no change in there was no recovery witnessed. As of now the level of 10,700 would act as a major support while 10,250 would be the major base for A decisive breach on either side would bring in fresh movements with new levels. However, the support for the day is seen at 10,420 while resistance is seen at 10,530. BUY HPCL CMP: Rs 396.3 TARGET: Rs 435 STOP LOSS: Rs 375 The stock has made a good base at 365 levels and has bottomed out at that level to show recovery and regain strength for further upward move in the coming days. The indicators are looking positive for an up move thus maintaining the positive bias.

With good volume activity witnessed in the recent days, we recommend a buy in this stock for an upside target of 435 keeping a stop loss of 375. BUY EQUITAS HOLDING CMP: Rs 139.60 TARGET: Rs 156 STOPLOSS: Rs 135 The stock has hit the low at 129 level and made a V-shaped recovery and gained strength further to indicate a positive bias with improving indicators and RSI levels. The RSI has indicated a trend reversal and has shown significant revival from the lows. The RSI has indicated a reversal and is improving its trend to anticipate a significant rise in the coming days. With the volume participation improving, we recommend a buy in this stock for an upside target of 156 keeping a stop loss of 135. Disclaimer: The analyst may have positions in any or all the stocks mentioned above

First Published: Thu, February 08 2018. 08:22 IST