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Support for Nifty is seen at 9950, resistance at 10280: Prabhudas Lilladher

Nifty Outlook And Key Trading Ideas By Vaishali Parekh, Research Analyst - Technical Research At Prabhudas Lilladher

Vaishali Parekh  |  New Delhi 

Outlook And Key Trading Ideas By Vaishali Parekh, Research Analyst - Technical Research At Prabhudas Lilladher:
 
VIEW:

 
The weekly and daily trend are down in Sensex, & Bank has its crucial support at 10,100 levels a break of which would be a threat of further erosion to 9900-9800 levels. The support for the week is seen at 9,950 while resistance is seen at 10,280. View is now corrective unless bounces back above 10,350.
 
BUY 
CMP: Rs  60.90    
TARGET: Rs 67.50    
STOP LOSS: Rs 58
 
The stock has been gradually on the rise and with a series of small higher bottom formation pattern in the daily chart, it has been gaining strength and has potential to rise further in the coming days. With favourable factors like the RSI indicating a trend reversal thus signaling a buy, technically this stock looks attractive with an upward bias. With decent volume built up witnessed, we recommend a buy in this stock  for an upside of 67.50 keeping a of 58
 
BUY (KECL)    
CMP: Rs 44.15     
TARGET: Rs 48.50     
STOP LOSS: Rs 42
 
The stock has been consolidating for quite some time at around 42 – 43 levels and now has produced a positive candle in the daily chart to signify potential to regain a pullback and give a further rise in the coming days. We anticipate the stock to scale up to 48-49 levels and with favourable factors supporting our view of a positive bias and also with decent volume activity seen, we recommend a buy in this stock for an upside of 48.50 keeping a of 42.
 
BUY MASTEK    
CMP: Rs 367.80     
TARGET:  Rs 405    
STOP LOSS: Rs 345
 
The stock has been in an upward trending mode in the past 2-3 months and now after a short correction has again bottomed out at around 355 levels and has indicated a positive candle pattern in the daily chart. The stock looks attractive for still further rise in the coming days with potential and strength to scale up to 405 and higher levels. With the RSI indicating a trend reversal and signaling a buy and also with decent volume participation in the stock, we recommend a buy for an upside of 405 keeping a of 345.
 
Disclaimer: The analyst may have positions in any or all the stocks mentioned above.

First Published: Mon, December 04 2017. 08:36 IST
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