 "Nifty outlook and top trading calls for today's trade: Prabhudas Lilladher")
Few trading ideas by Vaishali Parekh, Research Analyst - Technical Research at Prabhudas Lilladher:
NIFTY VIEW:
Nifty has now made a base at 10,000 to surge towards the projected target of 10,500. The support for the day is seen at 10,180 while resistance is seen at 10,275.
BUY ZEE ENTERTAINMENT
CMP: Rs 514.45
TARGET: Rs 550
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STOP LOSS: Rs 500
The stock has made more or less a double bottom formation in the daily chart and is poised to rise in the upward direction with potential and strength and we anticipate it to go till around Rs 560 levels. The RSI is on the improvement side and with MACD also showing a positive bias, we recommend this stock for an upside target of Rs 550 keeping a stop loss of Rs 500.
BUY STRIDES SHASUN
CMP: Rs 881.20
TARGET: Rs 990
STOP LOSS: Rs 830
The stock has witnessed a decent correction from Rs 1041 to Rs 832 and a bottom formation has been made to make a recovery showing potential and strength to gain further in the coming days. The RSI has recently shown a trend reversal signaling a buy and hence is supporting our view of a positive bias. With decent volume participation witnessed, we recommend a buy in this stock for an upside target of Rs 990 keeping a stop loss of Rs 830.
BUY RAMA STEEL
CMP: Rs 186.95
TARGET: Rs 204
STOP LOSS: Rs 172
The stock after making a higher bottom formation pattern in the daily chart has recovered significantly and has given a breakout above the previous peak of Rs 178 levels and is looking attractive for further upside gains in the coming days. The stock is in a trending mode and has potential to rise till Rs 204 levels with strength and has maintained the positive bias. With good volume participation witnessed, we recommend a buy in this stock for an upside target of Rs 204 keeping a stop loss of Rs 172.
Disclaimer: The analyst may have positions in any or all the stocks mentioned above.
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