Top trading ideas by HDFC Securities: Sell Eicher Motors, Pidilite
Nifty outlook and top technical calls by Vinay Rajani, technical analyst at HDFC Securities
 "Top trading ideas by HDFC Securities: Sell Eicher Motors, Pidilite")
premium
Nifty outlook and top technical calls by Vinay Rajani, technical analyst at HDFC Securities:
Nifty View
Nifty is in continuation of a downtrend. Near-term support for Nifty is placed at 10,200, below which further panic selling may emerge. Far support for Nifty is placed at 9,875. Resistances for the Nifty is seen at 10,410, above which short-term trend would reverse from bearish to bullish.
SELL EICHER MOTORS
CMP: Rs 21,086
Target: Rs 19,500
Also Read
Stop loss: Rs 22,300
The stock price has been forming lower tops and lower bottoms on the short-term charts. The stock has been trading in a narrow range for last 4 trading session. The stock is likely to resume its downtrend by breaking down below the short-term consolidation. We recommend selling Eicher Motors for the target of 19,500, keeping SL at 22,300.
SELL PIDILITE
CMP: Rs 914
Target: Rs 860
Stop loss: Rs 950
The stock price has broken down below long-term upward sloping trend line on the weekly chart. The stock price has reached below its 200 DMA. Short term moving averages are trading below long-term moving averages, indicating a bearish trend. Lower tops and lower bottoms have started forming. We recommend selling Pidilite Industires for the target of 860, keeping SL at 950.
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%