 "Nifty outlook and top stock recos from Prabhudas Lilladher")
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NIFTY VIEW :
Nifty continues to be in a robust move with participation coming from almost all sectors and once again closed at all time high to breach above 10600 mark. The support for the day is seen at 10570 while the resistance would be at 10670 levels.
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BUY INDIABULL VENTURE
CMP : Rs 268.20
TARGET : Rs 300
STOP LOSS : Rs 254
The stock has been in a consolidation phase for quite some time and now it has indicated signs of a revival with the RSI showing a trend reversal to signal a buy. The MACD as well is indicating a positive bias and we anticipate a good rally from here on to scale up to 305 levels. With good volume participation seen, we recommend a buy in this stock for an upside target of 300 keeping a stop loss of 254.
BUY TEXRAIL
CMP : Rs 119.50
TARGET : Rs 132
STOP LOSS : Rs 112
The stock has made a bottom at around 105 levels and has been recovering gradually and now with a positive bullish candle pattern formed in the daily chart has indicated strength and potential to rise further in the coming days. The RSI has been on the rise and has now signified a steep rise to indicate a positive bias and we anticipate a rally in this stock to gain further upto 130 levels. With good volume participation witnessed, we recommend a buy in this stock for an upside target of 132 keeping a stop loss of 112.
BUY MCX
CMP : Rs 950.50
TARGET : Rs 1040
STOP LOSS : Rs 905
The stock has corrected well and now it has made a double bottom formation in the daily chart indicating a good support at 904 levels. The stock has indicated a positive bias with the bullish candle pattern formed and has got strength and potential to rise further in the coming days to scale up to 1030 levels. With good decent volume activity seen, we recommend a buy in this stock for an upside target of 1040 keeping a stop loss of 905.
Disclaimer: The analyst may have positions in any or all the stocks mentioned above.
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