 "Nifty to see resistance at 10,300 in truncated week: Prabhudas Lilladher")
Few trading ideas by Vaishali Parekh, Research Analyst - Technical Research at Prabhudas Lilladher:
NIFTY VIEW:
Market surely getting in festive mood with Nifty making a new high and in new round of momentum. This being a truncated week, we would have a range of 10,000 while resistance would be at 10,300. Bank Nifty would have a range of 24,170-25,180.
BUY MASTEK
CMP: Rs 332.40
TARGET: Rs 375
Also Read
STOP LOSS: Rs 310
The stock has recovered significantly from the low of Rs 274 and has shown strength and potential to rise further to scale the levels of Rs 375-380. The RSI has been on the rise and has been on a positive bias and we anticipate the stock to give a good run. With decent volume participation witnessed, we recommend the stock for a buy with an upside target of Rs 375 keeping a stop loss of Rs 310.
BUY ASTEC LIFE
CMP: Rs 619.10
TARGET: Rs 660
STOP LOSS: Rs 592
The stock has been maintaining above the significant 200-DMA and has shown a positive bias with potential to rise further in the coming days. The RSI has shown a trend reversal while also the MACD has been on the rise showing positive indications for further more rally in the coming days. With volume on the rise, we recommend a buy in this stock for an upside target of Rs 660 keeping a stop loss of Rs 592.
BUY ICICI BANK
CMP: Rs 271.30
TARGET: Rs 294
STOP LOSS: Rs 262
The stock has been in a corrective mode for quite some time and has made a bottom at Rs 264 and now positive bias indications are there with the formation of a positive candle. The RSI also has shown a trend reversal from the highly oversold area and has signaled a buy. With volume participation on the rise in recent days, the stock looks attractive for further rise in the coming days and hence we recommend a buy in this stock for an upside target of Rs 294 keeping a stop loss of Rs 262.
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%