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Nifty outlook and top trading ideas from Prabhudas Lilladher

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

Vaishali Parekh  |  Mumbai 

markets, stocks, sensex, nifty, bse, nse
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outlook and key trading ideas by Vaishali Parekh, Research Analyst - Technical Research at Prabhudas Lilladher:
 
VIEW:

 
for now has made a U-turn getting its daily trend turned up after 6 days; however needs to cross 10,200 levels for further of 10,280-10,350. The support for the day is seen at 10,120 while resistance is seen at 10,220. This still continues to be a bounce back rally till we see some confirmation above 10,350.
 
BUY ASIAN PAINTS     
CMP: Rs 1,144.40     
TARGET: Rs 1,245     
STOP LOSS: Rs 1,100
 
The stock has given a decent correction from the  peak of 1200 levels and now has bottomed out at 1099 and produced a positive bullish candle pattern in the daily chart to signify potential and strength to rise further in the coming days. The RSI has hit the oversold area and has indicated a steep rise with a trend reversal thus signaling a buy in this stock. The volume activity has been tremendous in the recent times and thus we recommend a buy in this stock for an upside of 1245 keeping a of 1100
 
BUY RAMA STEEL AND TUBES     
CMP: Rs 185    
TARGET: Rs 204     
STOP LOSS: Rs 175
 
The stock has been consolidating for some time between the range of 180 and 188 levels and now has indicated a positive candle in the daily chart. The indicators are showing a positive bias with favorable factors like the RSI has indicated a steep rise from the bottom to show a trend reversal and signal a buy. The stock looks promising and we recommend a buy in this stock for an upside of 204 keeping  a of 175
 
BUY GAIL    
CMP: Rs 492.55   
TARGET: Rs 535     
STOP LOSS: Rs 470
 
After  a period of consolidation for quite some time, the stock has given a breakout with a huge positive candle in the daily chart and has opened the doors for further fresh upward targets and with the RSI bouncing back to indicate a reversal has made the stock look attractive and promising for further gains in the coming days. With huge volume witnessed, we recommend a buy in this stock for an upside of 535 keeping a of 470
 
Disclaimer: The analyst may have positions in any or all the stocks mentioned above.

First Published: Fri, December 08 2017. 08:20 IST
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