Nifty outlook and few trading ideas by Prabhudas Lilladher for today

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

NIFTY VIEW: Nifty is in the process of making lower top on daily chart implying new round of correction to set in with near term resistance seen at 10600 levels. The support for the day is seen at 10440 while resistance is seen at 10550. Our view is corrective and cautious.

BUY TECH MAHINDRA

CMP: Rs 611.50

TARGET: Rs 660

STOP LOSS: Rs 580 

The stock has made a higher bottom formation pattern in the daily chart to reverse from the level of 586 and has indicated a positive bullish candle pattern to signify a positive