 "Nifty outlook and top trading ideas by Prabhudas Lilladher for today")
NIFTY VIEW:
Nifty has got its daily trend tuned down after 8 days & on daily chart we see RSI leaving the overbought zone to show signs of profit booking. The support for the day is seen at 10,650 while resistance is seen at 10,750. We maintain a cautious view & stay light on trades.
Nifty has got its daily trend tuned down after 8 days & on daily chart we see RSI leaving the overbought zone to show signs of profit booking. The support for the day is seen at 10,650 while resistance is seen at 10,750. We maintain a cautious view & stay light on trades.
BUY ICICI BANK
CMP : Rs 334.10
TARGET : Rs 360
STOP LOSS : Rs 320
CMP : Rs 334.10
TARGET : Rs 360
STOP LOSS : Rs 320
The stock has given a good run in the past 2-3 days and has indicated a breakout above the previous peak level of Rs 332 to signify a positive bias with strength and potential to rise further in the coming days. The RSI has shown a steep rise so also the MACD which has indicated a trend reversal to signal a buy. With good volume participation, we recommend a buy in this stock for an upside target of Rs 360 keeping a stop loss of Rs 320.
BUY GATI
CMP : Rs 149
TARGET : Rs 160
STOP LOSS : Rs 140
The stock has been gradually on the rise and has indicated a positive bias and with a positive candle pattern formed in the daily chart, we anticipate a decent rise further in the coming days with potential and strength. The indicators have been favourable supporting our view of a positive trigger and with rising volume activity witnessed, we recommend a buy in this stock for an upside target of Rs 160 keeping a stop loss of Rs 140.
BUY HEIDELBERG CEMENT
CMP : Rs 173.20
TARGET : Rs 192
STOP LOSS : Rs 164
The stock has almost made a higher bottom formation pattern in the daily chart and the current positive candle formed signifies a positive bias with strength and potential to carry on the momentum still further upward to scale till Rs 192 levels. The RSI has indicated a trend reversal to signal a buy and with tremendous volume participation witnessed, we recommend a buy in this stock for an upside target of Rs 192 keeping a stop loss of Rs 164.
Disclaimer: The analyst may have positions in any or all the stocks mentioned above.
CMP : Rs 173.20
TARGET : Rs 192
STOP LOSS : Rs 164
The stock has almost made a higher bottom formation pattern in the daily chart and the current positive candle formed signifies a positive bias with strength and potential to carry on the momentum still further upward to scale till Rs 192 levels. The RSI has indicated a trend reversal to signal a buy and with tremendous volume participation witnessed, we recommend a buy in this stock for an upside target of Rs 192 keeping a stop loss of Rs 164.
Disclaimer: The analyst may have positions in any or all the stocks mentioned above.
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