 "Nifty outlook and top trading ideas from Prabhudas Lilladher")
Nifty outlook and key trading ideas by Vaishali Parekh, Research Analyst - Technical Research at Prabhudas Lilladher:
NIFTY VIEW:
Nifty for now has made a U-turn getting its daily trend turned up after 6 days; however Nifty needs to cross 10,200 levels for further target of 10,280-10,350. The support for the day is seen at 10,120 while resistance is seen at 10,220. This still continues to be a bounce back rally till we see some confirmation above 10,350.
BUY ASIAN PAINTS
CMP: Rs 1,144.40
TARGET: Rs 1,245
STOP LOSS: Rs 1,100
The stock has given a decent correction from the peak of 1200 levels and now has bottomed out at 1099 and produced a positive bullish candle pattern in the daily chart to signify potential and strength to rise further in the coming days. The RSI has hit the oversold area and has indicated a steep rise with a trend reversal thus signaling a buy in this stock. The volume activity has been tremendous in the recent times and thus we recommend a buy in this stock for an upside target of 1245 keeping a stop loss of 1100
BUY RAMA STEEL AND TUBES
CMP: Rs 185
TARGET: Rs 204
STOP LOSS: Rs 175
The stock has been consolidating for some time between the range of 180 and 188 levels and now has indicated a positive candle in the daily chart. The indicators are showing a positive bias with favorable factors like the RSI has indicated a steep rise from the bottom to show a trend reversal and signal a buy. The stock looks promising and we recommend a buy in this stock for an upside target of 204 keeping a stop loss of 175
BUY GAIL
NIFTY VIEW:
Nifty for now has made a U-turn getting its daily trend turned up after 6 days; however Nifty needs to cross 10,200 levels for further target of 10,280-10,350. The support for the day is seen at 10,120 while resistance is seen at 10,220. This still continues to be a bounce back rally till we see some confirmation above 10,350.
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CMP: Rs 1,144.40
TARGET: Rs 1,245
STOP LOSS: Rs 1,100
The stock has given a decent correction from the peak of 1200 levels and now has bottomed out at 1099 and produced a positive bullish candle pattern in the daily chart to signify potential and strength to rise further in the coming days. The RSI has hit the oversold area and has indicated a steep rise with a trend reversal thus signaling a buy in this stock. The volume activity has been tremendous in the recent times and thus we recommend a buy in this stock for an upside target of 1245 keeping a stop loss of 1100
BUY RAMA STEEL AND TUBES
CMP: Rs 185
TARGET: Rs 204
STOP LOSS: Rs 175
The stock has been consolidating for some time between the range of 180 and 188 levels and now has indicated a positive candle in the daily chart. The indicators are showing a positive bias with favorable factors like the RSI has indicated a steep rise from the bottom to show a trend reversal and signal a buy. The stock looks promising and we recommend a buy in this stock for an upside target of 204 keeping a stop loss of 175
BUY GAIL
CMP: Rs 492.55
TARGET: Rs 535
STOP LOSS: Rs 470
After a period of consolidation for quite some time, the stock has given a breakout with a huge positive candle in the daily chart and has opened the doors for further fresh upward targets and with the RSI bouncing back to indicate a reversal has made the stock look attractive and promising for further gains in the coming days. With huge volume witnessed, we recommend a buy in this stock for an upside target of 535 keeping a stop loss of 470
Disclaimer: The analyst may have positions in any or all the stocks mentioned above.
TARGET: Rs 535
STOP LOSS: Rs 470
After a period of consolidation for quite some time, the stock has given a breakout with a huge positive candle in the daily chart and has opened the doors for further fresh upward targets and with the RSI bouncing back to indicate a reversal has made the stock look attractive and promising for further gains in the coming days. With huge volume witnessed, we recommend a buy in this stock for an upside target of 535 keeping a stop loss of 470
Disclaimer: The analyst may have positions in any or all the stocks mentioned above.
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