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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.

Photo: Shutterstock.com
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Photo: Shutterstock.com

Vaishali Parekh
NIFTY VIEW
The daily and weekly trend continues to show weakness in indices with selling seen in almost all sectors. Nifty has closed lower below 50 DMA & sentiment is now turning nervous for bulls. The support for the week is seen at 10260 while resistance is seen at 10600. Bank Nifty has still lot of room for downslide to a level of 24600-24500. We recommend a cautious approach and a corrective phase for market.

BUY POWER GRID

CMP: Rs 195.55

TARGET: Rs 215

STOP LOSS: Rs 188

The stock has witnessed a gradual correction from the peak of