 "Top trading ideas by Prabhudas Lilladher: Buy Nestle, Berger Paints")
NIFTY VIEW
The much-awaited event arrives with anxiety building up among the market players. Technically, the index has taken support at 11,100 levels and bounced from there on gaining almost 300 points in the past two days. The support for the week is seen at 36,850/11,050 for the Sensex and Nifty, respectively, while resistance is seen at 38,880/11,720. Bank Nifty would have a range of 28,350-30,430. The exit poll and election result will decide the next move and clear direction of the market.
BUY NESTLE
CMP: Rs 10,465.65
TARGET: Rs 11,250
STOP LOSS: Rs 10,100
The stock has witnessed a short correction in recent times to bottom out at around Rs 10,150 levels and has indicated a positive candle to signify strength and has potential to rise further in the coming days. The relative strength index (RSI) also has shown a trend reversal to signal a buy and has improved the bias. With good volume participation witnessed, we recommend a buy in this stock for an upside target of Rs 11,250, keeping a stop loss of Rs 10,100.
BUY BERGER PAINTS
CMP: Rs 300.35
TARGET: Rs 330
STOP LOSS: Rs 285
The stock has given a decent correction from the levels of Rs 335 to show signs of bottoming out near Rs 290 levels almost forming a double bottom formation pattern on the daily chart to imply a strong support base. The currently indicated positive candle has signified strength and has further potential to carry the stock upward in the coming days. The indicators are favourable and with decent volume participation seen, we recommend a buy in this stock for an upside target of Rs 330, keeping a stop loss of Rs 295.
====================================
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%