Buy Lupin for a target of Rs 940, stop loss of Rs 810: Prabhudas Lilladher

Nifty outlook and few trading ideas by Vaishali Parekh, Research Analyst - Technical Research at Prabhudas Lilladher:

NIFTY VIEW

The benchmark indices as we had mentioned being in an overbought zone, the market is witnessing profit booking. The near-term support of Nifty lies at 11220-11200, a decisive break of which would bring in a further correction to an extent. Support for the day is seen at 11180 while resistance is seen at 311300. We suggest going light on trading positions as a word of caution. Pharma sector shows good up move hence we have a bullish bias on Sun Pharma, Auro Pharma,