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

The daily, as well as weekly, MACD for Nifty, is still in buy mode; hence, the bulls still have an upper hand on that front

NIFTY: BUY | TGT: 12,340 | SL: 12,225

The Nifty closed almost flat in the last trading session. However, on the lower side, there is a good support at 12,150 levels and till those levels are held, the probability of the Nifty inching towards 12,355-12,400 is still high as that is the upper end of the rising wedge pattern. The daily as well as weekly MACD is still in buy mode; hence, the bulls still have an upper hand on that front.

BERGER PAINTS: BUY | TGT: Rs 560 | SL: Rs 500

The stock has provided a breakout from the downtrend line