Nifty outlook and top trading ideas by Jay Anand Thakkar of Anand Rathi

Nifty has again started to form higher tops and bottoms and has finally provided a breakout from the crucial swing resistance of 12,040 levels

NIFTY: BUY | TGT 12,300 | SL: 12,000

Nifty closed in the positive territory and, as anticipated in the last trading session, the Index has again started to form higher tops and bottoms. It has also provided a breakout from the crucial swing resistance of 12,040 levels. The hourly momentum indicator MACD has come back into the buy mode which is quite positive and the Index is inching towards the upper end of the rising wedge pattern i.e. towards 12,300 levels.

AU SMALL FINANCE BANK:  BUY | TGT: Rs 860 | SL: Rs 802

The stock has provided a breakout from the symmetrical