Nifty outlook and stock picks by Nilesh Jain of Anand Rathi: Buy IRCTC, TCS

The momentum indicators and oscillators are very well in the buy mode on daily as well as weekly scales which hints of a further positive momentum in TCS

BUY NIFTY | TARGET: 11,500 | STOP LOSS: 11,250

The Nifty index found support near 11,250 levels and recovered from the same. It has formed a dragonfly doji candlestick pattern on the daily chart which is considered as a bullish reversal pattern. The momentum indicators and oscillators on the weekly scale are very well on buy mode. The volatility index “India VIX” has also started cooling down which is giving comforts to the bulls. Hence, aggressive traders can initiate a long position for a pullback towards 11,450-11,500 levels.

BUY IRCTC | TARGET: Rs 1,500 | STOP LOSS: Rs 1,365

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