 "Top stock ideas from Prabhudas Lilladher for today: Buy Dabur, JSPL")
Nifty outlook and few trading ideas by Vaishali Parekh, Research Analyst - Technical Research at Prabhudas Lilladher:
NIFTY VIEW
Post RBI policy outcome, both Nifty and Bank Nifty rallied but market still does not confirm a clear trend unless it witnesses a clear breakout at its either levels. Nifty has got a resistance at around 10830-10850 levels while Bank Nifty would have a barrier at around 27000-27050 levels. However, the support for the day is seen at 10700 while the resistance would be at 10830 levels.
BUY JINDAL STEEL & POWER
CMP: Rs 244.55
TARGET: Rs 265
STOP LOSS: Rs 232
The stock has maintained a good support base at around 222 levels and currently has moved past the significant 34WMA and 50 DMA moving averages to signify a positive bias and strength to rise further in the coming days. The indicators have turned favourable with the RSI indicating a trend reversal with a steep rise in the past two days and has signaled a buy. With good volume participation witnessed, we recommend a buy in this stock for an upside target of 265 keeping a stop loss of 232.
BUY DABUR
CMP: Rs 383.95
TARGET: Rs 415
STOP LOSS: Rs 370
The stock has been in a trending mode for quite a long time and recently a mild correction witnessed has taken support at the significant 34 WMA moving average, has made the stock to look attractive and a good stock to enter. The RSI also has shown a revival and is poised for a trend reversal to anticipate an upmove in the coming days. With consistent decent volume activity witnessed, we recommend a buy in this stock for an upside target of keeping a stop loss of 370.
Disclaimer: The analyst may have positions in any or all the stocks mentioned above.
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