Nifty outlook and top stock picks by Motilal Oswal Securities

Nifty outlook and top stock picks by Chandan Taparia, Derivatives & Technical Analyst, MOSL:

Outlook :

Nifty index continued its formation of higher highs for six consecutive session and headed towards 10,400 zones. It formed a bullish candle and closed above its 50 DEMA on daily scale. Now it has to continue to hold above 10,333 zones to extend its move towards 10,440 then 10,480 zones while on the downside supports are seen at 10,276 then 10,222 levels.

Stocks:

BIOCON
Reco: BUY
Last Close: 620
Stop Loss : 605
Target : 650

Higher top – higher bottom on weekly