 "Top trading ideas by Prabhudas Lilladher: Buy IndusInd Bank, Rallis India")
NIFTY VIEW
The week has begun with a bang with the Nifty closing above 10,950 and moving past the cluster of significant moving averages bringing a new range for indices and we anticipate further upward momentum. The support for the day is seen at 36,160/10,920 while resistance is seen at 36,740/11,060. Bank Nifty too moving past 27,300 elevates the range and we have the range for the day as 27,270-27,850 levels. Mid-caps have begun with a roaring recovery which should now be the focus.
BUY INDUSIND BANK
CMP: Rs 1,541.60
TARGET: Rs 1,660
STOP LOSS: Rs 1,470
Also Read
The stock has given a breakout above the triangle flag pattern above Rs 1,520 and has signified strength for further upward movement and has made the chart look very attractive. The RSI has indicated a steep rise to shown a trend reversal and has signaled a buy. With good volume participation witnessed, we recommend a buy in this stock for an upside target of Rs 1,660 keeping a stop loss of Rs 1,470.
BUY RALLIS INDIA
CMP: Rs 157.95
TARGET: Rs 180
STOP LOSS: Rs 146
The stock has witnessed a decent correction from the peak of Rs 277 and currently has shown signs of bottoming out and consolidating with a strong base maintained near 148 levels. A bullish positive candle pattern in the daily chart has indicated the potential to rise further with a positive bias and with the RSI also showing a steep rise with a trend reversal has supported our view. With good volume activity seen, we recommend a buy in this stock for an upside target of Rs 180 keeping a stop loss of Rs 146.
Disclaimer: The analyst may have positions in any or all the stocks mentioned above.
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%