Top stock picks by Anand Rathi: Buy Marico, SRF, Apollo Hospitals

Nifty outlook and top trading ideas by Jay Anand Thakkar, CMT - Assistant Vice President - Equity Research, Anand Rathi Shares and Stock Brokers.

BUY NIFTY

TARGET: 11,250

STOP-LOSS: 10,950

The Nifty closed almost flat in Monday's trading session. However, the daily momentum indicator is still in the buy mode, and hence, the probability of an upward breakout is still high. The Index has completed wave Y on the lower side and wave X bounce is expected. On the lower side, the support is pegged at 10,900 levels whereas the target is 11,250.

BUY MARICO

TARGET: Rs 425

STOP-LOSS: Rs 375

The stock has provided a breakout from the symmetrical triangular pattern with a buy crossover in its daily as well as weekly momentum indicators. The previous move was an impulsive one, hence, another impulse on the upside is expected from here on.

BUY SRF

TARGET:  Rs 3,150

STOP-LOSS: Rs 2,800

The stock has provided a buy crossover on the daily charts with a positive divergence, the stock has also provided a breakout from the symmetrical triangular pattern on the daily charts indicating wave 4 consolidations is over and wave 5 up has ensued.

BUY APOLLO HOSPITALS

TARGET: Rs 1,590

STOP-LOSS: Rs 1,407

The stock has provided a breakout from the falling channel with a buy crossover in its daily as well as weekly charts. The stock is likely to move up in its wave 5, hence we recommend buying this stock for the target of Rs 1,580 with a stop loss of Rs 1,407.
Disclaimer: The analyst may have positions in any or all the stocks mentioned above.