Top stock recos: Buy YES Bank, Lupin & Castrol India

Nifty outlook and few trading ideas by Vaishali Parekh, Research Analyst - Technical Research at Prabhudas Lilladher:

NIFTY VIEW :
Nifty has given a breakout above the previous peak in the daily chart where it was witnessing a strong resistance on several occasions and has signified a positive bias with the RSI in daily and weekly chart showing strong trend. We maintain the ongoing positive momentum in Nifty unless and until it breaks the level of 10380 on the lower end. However, the support for the week is seen at 10380 while resistance is seen at 10760.
 
BUY YES BANK   
CMP : Rs 332.85     
TARGET : Rs 365    
STOP LOSS : Rs 316
The stock has given a breakout after a long consolidation period and has indicated a strong positive bias for further movement in the coming days. The RSI has indicated a steep rise and recently has made a trend reversal to signal a buy. Also it has moved above the 200 DMA to show strength and potential to gain further and with decent volume participation witnessed, we recommend a buy in this stock for an upside target of 365 keeping a stop loss of 316.
 
BUY LUPIN 
CMP : Rs 900.15      
TARGET : Rs 975      
STOP LOSS : Rs 870
The stock has been hanging on around the 825-830 levels for some time and then a gradual rise was seen again to consolidate at around 875-885 levels and now a spurt has been indicated with a positive bias. The chart looks attractive for an upmove and the indicators are also favourable for a good rally. The volume has been picking up and we anticipate the stock to move upward till 970-980 levels. We recommend a buy in this stock for an upside target of 975 keeping a stop loss of 870.
 
BUY CASROL INDIA   
CMP: Rs 195     
TARGET: Rs 215    
STOP LOSS: Rs 188
The stock has witnessed a deep correction from the peak of 212.50 and has now bottomed out at 193 levels and looks very attractive for further gains. The positive candle formed in the daily chart indicates a positive bias with the RSI showing a strong trend reversal from the oversold zone to signal a buy. We anticipate the stock to move till 215 levels and with tremendous volume participation witnessed, we recommend a buy in this stock for an upside target of 215 keeping  a stop loss of 188.

Disclaimer: The analyst may have positions in any or all the stocks mentioned above.