ALSO READIntraday support for Nifty seen at 9,840, says Prabhudas Lilladher Nifty to see resistance at 10,300 in truncated week: Prabhudas Lilladher Nifty may break below 9,685 ahead of F&O expiry: Prabhudas Lilladher Nifty outlook and top trading ideas by Prabhudas Lilladher Key trading ideas: Buy PNB, Berger Paints, BHEL
Nifty continues to make new high with trend of all periodicities up & indicators supporting the view, view still continues to be positive with Nifty having its near term support at 10,550. However, the support for the week is seen at 10,500 while resistance is seen at 10,830.
CMP: Rs 102.70
TARGET: Rs 115
STOP LOSS: Rs 95
The stock has given a good run after making the bottom at around 88 levels and currently has given a breakout above the previous peak of 101.50 level to signify strength and potential to rally further upward in the coming days. The RSI has been on the rise indicating a strong positive bias so also the MACD which is in a positive trend. With consistent volume participation seen, we recommend a buy in this stock for an upside target of 115 keeping a stop loss of 95.
BUY ICICI BANK
CMP: Rs 317.70
TARGET: Rs 345
STOP LOSS: Rs 305
The stock has been in consolidation for quite some time gaining potential and now has indicated a positive candle pattern in the daily chart to signify strength and can rally in the coming days. The RSI has very much improved and shown a trend reversal to signal a buy while also the MACD is on the rise signifying a positive bias. The chart looks attractive and we anticipate a decent run and with active volume activity seen, we recommend a buy in this stock for an upside target of 345 keeping a stop loss of 305.
BUY PNB GILTS LTD
CMP: Rs 48.60
TARGET: Rs 55
STOP LOSS: Rs 45
The stock has taken support at the significant moving average of 34WMA which lies at 46.50 and has now produced a positive candle pattern in the daily chart to signify strength and potential to rise further in the coming days. The RSI has shown a steep rise to indicate positive bias and further gains can be anticipated. With good decent volume participation witnessed, we recommend a buy in this stock for an upside target of 55 keeping a stop loss of 45.
Disclaimer: The analyst may have positions in any or all the stocks mentioned above.