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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 overall view is still corrective; however Nifty would very likely respect the previous low of 10275 levels to give a bounce up to 10430-10460 levels. The support for the day is seen at 10320 while resistance is seen at 10430. Market would witness volatility as we are approaching the expiry of FNO segment.


BUY GODREJ INDS

CMP: Rs 548.05

TARGET: Rs 590

STOP LOSS: Rs 525

The stock has corrected from the peak of 643 and bottom out at 532 levels and is consolidating at these levels currently. The level of 530 -535 appears to be a strong support base and we anticipate