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Top trading ideas for today's trade: Buy Coal India, Shriram Transport

Nifty view and few trading ideas by Vaishali Parekh of Prabhudas Lilladher

Vaishali Parekh  |  New Delhi 

markets, stocks, sensex, nifty, bse, nse
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view and few trading ideas by Vaishali Parekh, Research Analyst - Technical Research at Prabhudas Lilladher:
 
View      

 
continues to have a volatile move with volatility index also seeming to rise which would imply some corrective move, however for now is very much well within the range. The support for the day is seen at 9860 while resistance is seen at 9950.
 
- BUY      
CMP: Rs 246.50       
TARGET: Rs 255 - 260       
STOP LOSS: Rs 230
 
The stock has made a decent correction from the higher levels of 330 to 234 where it has taken support and has almost made a double bottom formation pattern in the daily chart. The RSI indicator also is recovering from its oversold zone and hence we recommend a positional buy in this stock for an upside of 255 - 260 keeping a of 230.
 
- BUY  
CMP: Rs 1,070.80      
TARGET: Rs 1,180     
STOP LOSS: Rs 980
 
The stock has been consolidating around the range 950 and 1050 levels for quite some time and now it has given a breakout with decent volume. The RSI indicator also has signaled a Buy by reversing its trend in the positive direction, we recommend a buy in this stock for an upside of 1150 keeping a of 980.
 
- BUY      
CMP: Rs 507.30    
TARGET: Rs 600    
STOP LOSS: Rs 440
 
The stock has been consolidating for quite a long time with a strong support near its 144 WMA which is around 420 levels and now it has made a positive candle pattern has indicated a Buy and we anticipate the stock to move up further till 600 levels. We recommend a buy in this stock keeping a of 440 and of 600.
 
Disclaimer: The analyst may have positions in any or all the stocks mentioned above.

First Published: Tue, September 05 2017. 08:06 IST
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