 "Top trading ideas from Prabhudas Lilladher: Buy Jet Airways, Siemens")
Nifty outlook and few trading ideas by Vaishali Parekh, Research Analyst - Technical Research at Prabhudas Lilladher:
NIFTY VIEW
Nifty is heading towards the resistance level of 10800 with the RSI on daily chart getting in overbought zone ahead of Fed meet. The support for the day is seen at 10680 while resistance is seen at 10790. Kotak & HDFC along with Yes and IndusInd are in their all time high. PSU Banks have started showing signs of a bounce back. We suggest to book profit at these levels to see the next move.
BUY JET AIRWAYS
BUY CAPITAL FIRST
CMP: Rs 642.50
TARGET: Rs 685
STOP LOSS: Rs 615
The stock has made an almost double bottom formation pattern in the daily chart with a strong base at around 614 levels and has indicated a revival with a positive candle in the daily chart. The RSI has indicated a trend reversal to improve the bias and also to signal a buy in this stock. A breakout above the significant moving average of 34 WMA would bring about further strength and we anticipate a rise till 680-685 levels in the coming days. With good activity witnessed, we recommend a buy in this stock for an upside target of 685 keeping a stop loss of 615.
Disclaimer: The analyst may have positions in any or all the stocks mentioned above.
NIFTY VIEW
Nifty is heading towards the resistance level of 10800 with the RSI on daily chart getting in overbought zone ahead of Fed meet. The support for the day is seen at 10680 while resistance is seen at 10790. Kotak & HDFC along with Yes and IndusInd are in their all time high. PSU Banks have started showing signs of a bounce back. We suggest to book profit at these levels to see the next move.
Also Read
CMP: Rs 643.25
TARGET: Rs 700
STOP LOSS: Rs 610
The stock has been in consolidation for quite some time at around 615 levels and currently has indicated a bullish candle pattern in the daily chart to signify strength and potential to rise further from here on to scale upto 690-700 levels. The RSI has shown a trend reversal and has indicated a positive bias in the current scenario. With good volume participation visible, we recommend a buy in this stock for an upside target of 700 keeping a stop loss of 610.
BUY SIEMENS
TARGET: Rs 700
STOP LOSS: Rs 610
The stock has been in consolidation for quite some time at around 615 levels and currently has indicated a bullish candle pattern in the daily chart to signify strength and potential to rise further from here on to scale upto 690-700 levels. The RSI has shown a trend reversal and has indicated a positive bias in the current scenario. With good volume participation visible, we recommend a buy in this stock for an upside target of 700 keeping a stop loss of 610.
BUY SIEMENS
CMP: Rs 1,122.40
TARGET: Rs 1,200
STOP LOSS: Rs 1,070
The stock has made a double bottom formation at around 1070 levels in the daily chart and is in a process of revival with a bullish candle formation visible. The RSI is on the rise maintaining a positive bias and with the MACD also in the positive trend, the stock is poised for an up move from here on to scale upto 1190-1200 levels. With consistent volume activity visible, we recommend a buy in this stock for an upside target of 1200 keeping a stop loss of 1070.
TARGET: Rs 1,200
STOP LOSS: Rs 1,070
The stock has made a double bottom formation at around 1070 levels in the daily chart and is in a process of revival with a bullish candle formation visible. The RSI is on the rise maintaining a positive bias and with the MACD also in the positive trend, the stock is poised for an up move from here on to scale upto 1190-1200 levels. With consistent volume activity visible, we recommend a buy in this stock for an upside target of 1200 keeping a stop loss of 1070.
BUY CAPITAL FIRST
CMP: Rs 642.50
TARGET: Rs 685
STOP LOSS: Rs 615
The stock has made an almost double bottom formation pattern in the daily chart with a strong base at around 614 levels and has indicated a revival with a positive candle in the daily chart. The RSI has indicated a trend reversal to improve the bias and also to signal a buy in this stock. A breakout above the significant moving average of 34 WMA would bring about further strength and we anticipate a rise till 680-685 levels in the coming days. With good activity witnessed, we recommend a buy in this stock for an upside target of 685 keeping a stop loss of 615.
Disclaimer: The analyst may have positions in any or all the stocks mentioned above.
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