 "Nifty outlook and few trading ideas by Prabhudas Lilladher for today")
NIFTY VIEW
The overall view is still corrective; however Nifty would very likely respect the previous low of 10275 levels to give a bounce up to 10430-10460 levels. The support for the day is seen at 10320 while resistance is seen at 10430. Market would witness volatility as we are approaching the expiry of FNO segment.
BUY GODREJ INDS
CMP: Rs 548.05
TARGET: Rs 590
STOP LOSS: Rs 525
Also Read
The stock has corrected from the peak of 643 and bottom out at 532 levels and is consolidating at these levels currently. The level of 530 -535 appears to be a strong support base and we anticipate a bounce back from here on and can scale upto 580-585 levels. The RSI has hit the oversold zone and is indicating a trend reversal to signal a buy. With good volume participation, we recommend a buy in this stock for an upside target of 590 keeping a stop loss of 525.
BUY RAIN INDS
CMP: Rs 392.10
TARGET: Rs 445
STOP LOSS: Rs 360
The stock has more or less made a higher bottom formation pattern in the daily chart and is poised for further more upside move and we anticipate it to scale till 440 levels. The indicators look favourable for a recovery with strength and potential to rise further in the coming days. With good decent activity witnessed, we recommend a buy in this stock for an upside target of 445 keeping a stop loss of 360.
Disclaimer: The analyst may have positions in any or all the stocks mentioned above.
Disclaimer: The analyst may have positions in any or all the stocks mentioned above.
One subscription. Two world-class reads.
Already subscribed? Log in
Subscribe to read the full story →*Subscribe to Business Standard digital and get complimentary access to The New York Times
Smart Quarterly
₹900
3 Months
₹300/Month
SAVE 25%
Smart Essential
₹2,700
1 Year
₹225/Month
SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months
Super Saver
₹3,900
2 Years
₹162/Month
Subscribe
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
SAVE 25%