ALSO READNifty outlook and two trading ideas by Sacchitanand Uttekar Nifty outlook and technical calls from Prabhudas Lilladher Nifty outlook and six trading ideas by Devang Shah for today's trade Nifty outlook and top three trading ideas by Chandan Taparia of MOSL Nifty may extend fall towards 9,700-9,750 in coming days: HDFC Securities
Few trading ideas by Vaishali Parekh, Research Analyst - Technical Research at Prabhudas Lilladher: NIFTY VIEW: After Nifty showing resistance at 10,500 , market witnessed a corrective move, now near term support coming at 10,130, a decisive break of 10,100 would drag Nifty to a further downslide to 10,000-9,800 levels. The support for the day is seen at 10,130 while resistance is seen at 10,230. BUY UJJIVAN FINANCE CMP: Rs 388.60 TARGET: Rs 430 STOP LOSS: Rs 360 The stock has been moving in an upward trend for quite some time and recently it has made a higher bottom formation pattern in the daily chart and thereafter it has significantly recovered to give a breakout above the previous high of Rs 381. The RSI has been on the rise and with decent volume participation witnessed, we recommend a buy in this stock for an upside target of Rs 430 keeping a stop loss of Rs 360. BUY KWALITY CMP: Rs 101.55 TARGET: Rs 120 STOP LOSS: Rs 95 The stock has been consolidating for some time at around Rs 96-100 after the stock fell from the peak of Rs 156 and looks attractive for a decent rise from hereon. The RSI has shown a steep rise indicating a strong positive bias and signaling a buy in this stock.
We anticipate a good run up to the levels of Rs 115-120 and with decent volume activity going on, we recommend a buy in this stock for an upside target of Rs 120 keeping a stop loss of Rs 95.BUY CASTROL INDIA CMP: Rs 397.85 TARGET: Rs 430 STOP LOSS: Rs 382 The stock has made a higher bottom formation pattern in the daily chart and has produced a positive bullish candle to signify further strength and potential to rise upward in the coming days. The previous peak of Rs 430 can be retested and possibility of a breakout can also be anticipated. With the RSI reversing its trend to signal a buy indicates the positive bias with many favourable factors. With a decent volume participation support our view, we recommend a buy in this stock for an upside target of Rs 430 keeping a stop loss of Rs 382. Disclaimer: The analyst may have positions in any or all the stocks mentioned above.