Buy Bharat Electronics for a target of Rs 98: Prabhudas Lilladher

Nifty outlook and few trading ideas by Vaishali Parekh, research analyst- technical research at Prabhudas Lilladher.

NIFTY VIEW

Nifty has its 3rd consecutive day of winning streak, now sustaining well above the 200DMA. Bank Nifty too though positive but well within the range. Support for the day is seen at 35750/10750 while resistance is seen at 36130/10840. Bank Nifty would have a range of 26600-27050. Kotak Bank continues to look positive. Some movement was seen is Pharma, though we need to witness consistency in this sector.

BUY BEL    

CMP: Rs 84.40        

TARGET: Rs 98       

STOP LOSS: Rs 75

The stock has made a good correction from around 95.50 price to consolidate near the 75 levels which is forming a good support level. The stock has made a good recovery with huge volume participation and also the RSI indicator has reversed its trend to give a buy signal. We recommend this stock for an upside target of 98 keeping a stop loss of 75.

BUY ZEE ENT     

CMP: Rs 493.70      

TARGET: Rs 525     

STOP LOSS: Rs 463

The stock has made a higher bottom formation and with good volume participation, this stock is in an upward trend along with rising RSI. We recommend this stock for an upside target of 525 keeping a stop loss of 463.

Disclaimer: The analyst may have positions in any or all the stocks mentioned above.