Top trading ideas by Anand Rathi; Buy JSW Steel, Sell McDowell

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

BUY NIFTY

TGT 11,950

SL 11700

Nifty is consolidating in the range of 11600-11850 from past couple of trading session and breakout from the same is likely to be on the higher side. Overall we recommend buy on dip strategy as long Nifty holds above 11600.

BUY JSWSTEEL

TGT 330

SL 297

JSWSTEEL : Bulls have managed to overpower the bears and have given a breakout from its crucial resistance of 300 levels. Now a possibility of an up move towards 330 and higher levels cannot be ruled out.

BUY KOTAK BANK

TGT 1500

SL 1370

It is moving after the long consolidation of last one month and bulls have actively taken the stock in the unchartered territory. It has surpassed the previous life time high of 1416 levels and is now all set to head towards 1500 and higher zones.

SELL MCDOWELL-N

TGT 514

SL 540

The stock failed to sustain above 559 levels and fell below its support of 540 levels. It has formed an immediate negative price structure and is showing the possibility of drifting towards 514 zones. It has given breakdown from its consolidation of phase of last couple of trading sessions. Thus the immediate target for the same comes around 514 and lower levels.

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