 "Nifty outlook and top trading ideas by HDFC Securities for today's trade")
Nifty outlook and technical calls by Vinay Rajani, Technical Analyst, HDFC Securities:
Nifty View
Nifty is holding its uptrend and trading around its all-time high. Nifty has achieved our anticipated target of 11,395 and now has been consolidating for last two sessions. Close above 11,395 in Nifty would push it towards the next target of 10,768. On the downside 11,300 is the first support followed by positional support at 11,200.
Buy Everest Industries
CMP: Rs 523
Target Rs 590
Also Read
Stop-loss Rs 470
The stock price has broken out from the “Flag” pattern on the weekly chart with a significant jump in volumes. The stock has been taking support on its 20-week exponential moving average. Primary trend of the stock has been bullish on its long-term charts. Recently stock price has claimed a level above the crucial resistance of its 200 DMA. We recommend buying Everest Industries for the upside target of 590, keeping SL at 470.
Buy Time-Technoplast
CMP: Rs 157.55
Target Rs. 147
Stop-loss Rs 169
The stock price has broken out from the downward sloping channel pattern on the weekly chart with a significant jump in volumes. Short term moving averages have reached above medium-term moving averages. Oscillator Setup has turned bullish. We recommend buying Time-Techno last or the upside target of 169, keeping SL at 147.
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%