 "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
Nifty has crossed the hurdle of 10,650 levels decisively which gives a further upward potential target of 10,750-10,800 levels, however a one way move of around 270 points, we can see some profit booking to consolidation with volatility as we are approaching the expiry day. The support for the day is seen at 10,640 levels while the resistance would be at 10,740 levels.
BUY BAJAJ AUTO
CMP: Rs 2,790.15
TARGET: Rs 3,050
Also Read
STOP LOSS: Rs 2,690
The stock has made a decent correction from the higher levels of 3468 to 2703 where it has taken support multiple times and has almost made a triple bottom formation pattern in the daily chart. The RSI indicator also is recovering from its oversold zone and hence we recommend a positional buy in this stock for an upside target of 3050 keeping a stop loss of 2690.
BUY AMBUJA CEMENT
CMP: Rs 212.10
TARGET: Rs 230
STOP LOSS: Rs 190
The stock has made a good correction from around 252.75 price to consolidate near the 204.50 levels which is forming a good support level. A positive candle is in the making and with RSI rising along with the MACD supported by good volume activity, we recommend a buy in this stock for an upside target of 230 keeping a stop loss of 190.
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%