 "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:
Market has for now been in sideways move, Nifty needs to cross 10250 decisively for further run to 10300-10500. The support for the day is seen at 10180 while resistance is seen at 10275.
BUY BANK OF BARODA
CMP: Rs 139.15
TARGET: Rs 152
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STOP LOSS: Rs 132
The stock has witnessed a great correction right from Rs 195 and now it has bottomed out at Rs 136 and has been consolidating for some time and also has made a double bottom formation at this level in the daily chart. The RSI has shown a trend reversal signaling a buy and supporting our positive bias. With decent volume participation seen, we recommend a buy in this stock for an upside target of Rs 152 keeping a stop loss of Rs 132.
BUY SHRIRAM TRANSPORT FINANCE
CMP: Rs 1107.95
TARGET: Rs 1200
STOP LOSS: Rs 1060
The stock has been having a good run and also has given a breakout above the previous resistance level of Rs 1100 and is showing potential and strength to rise further in the coming days. The RSI is on the rise and has been on the rise showing a positive bias. With good activity seen, we recommend a buy in this stock for an upside target of Rs 1200 keeping a stop loss of Rs 1060.
BUY SYNDICATE BANK
CMP: Rs 68.25
TARGET: Rs 76
STOP LOSS: Rs 63
The stock after making a double bottom formation has given a bounce back and is anticipated to give a breakout above the cluster of significant moving averages. The stock looks poised and attractive for an up move with favorable factors supporting our view and also the RSI has shown a steep rise with trend reversal to signify a buy in the stock. With good volume witnessed, we recommend a buy in this stock for an upside target of Rs 76 keeping a stop loss of Rs 63.
Disclaimer: The analyst may have positions in any or all the stocks mentioned above.
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