 "Nifty outlook and top trading ideas from Prabhudas Lilladher for today")
Nifty outlook and few trading ideas by Vaishali Parekh, Research Analyst - Technical Research at Prabhudas Lilladher.
NIFTY VIEW
The trend continues to be stable with Nifty having its resistance at 10631, a decisive move past this & a close above 10630 indicates a further up move to the projected target of 10700-10800. The support for the day is seen at 10570 while resistance is seen at 10670.
BUY RELIANCE INDS
CMP: Rs 970
TARGET: Rs 1030
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STOP LOSS: Rs 900
The stock has been maintaining a strong base at around 900 levels and has shown a positive bias with potential and strength to rise further in the coming days. The RSI in a positive trend and with decent volume activity, we recommend a buy in this stock for an upside target of 1030 keeping a stop loss of 900.
BUY SIEMENS LTD
CMP: Rs 1088
TARGET: Rs 1200
STOP LOSS: Rs 1030
The stock has given a decent correction from the peak of 1336 to consolidate and take support at around 1050 levels and now it has gradually regaining strength indicating a positive bias. We anticipate the stock to rise further in the coming days with strength and potential and with most of the indicators in a positive strength and with good decent volume activity seen, we recommend a buy in this stock for an upside target of 1200 keeping a stop loss of 1030.
BUY HIMADRI CHEMICAL
CMP: Rs 155
TARGET: Rs 180
STOP LOSS: Rs 135
The stock has been consolidating for some time between the range of 143 and 153 levels and currently the indicators are well poised to take the stock to further heights and has maintained a positive bias. With supporting indicators like RSI and MACD supporting our view of a positive upmove, we recommend a buy in this stock for an upside target of 180 keeping a stop loss of 135.
Disclaimer: The analyst may have positions in any or all the stocks mentioned above.
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