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Buy Motherson Sumi for a target of Rs 342, SL of Rs 304: Prabhudas Liladher
Nifty outlook and top trading ideas by Prabhudas Lilladher for today
Nifty outlook and top trading ideas by Prabhudas Lilladher for today
Nifty outlook and top trading ideas by Prabhudas Lilladher for today
Nifty outlook and top trading ideas by Prabhudas Lilladher
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Nifty outlook and few trading ideas by Vaishali Parekh, research analyst - technical research at Prabhudas Lilladher.
Nifty View
Nifty has crossed the hurdle of 10830-10850, now likely to break out from this range for higher targets with supporting indicators. Bank Nifty too amidst all the choppiness continues to surge with star performers like Axis & ICICI. The support for the day is seen at 35930/10780 while resistance is seen at 36500/10920. Bank Nifty would have a range of 27430-28030. The market now awaits the result of IT Giant TCS. ITC & Tata Motors too have after a long consolidation come out of its range.
BUY NIIT TECH
CMP: Rs 1,162.25
TARGET: Rs 1,260
STOP LOSS: Rs 1120
The stock has been consolidating for quite some time at around 1120 – 1140 levels gathering strength and has taken support at the significant 200 DMA moving average and currently has produced a bullish candle pattern in the daily chart to signify a positive bias and is poised for upward movement in the coming days. The RSI has indicated a trend reversal and with good volume participation witnessed, we recommend a buy in this stock for an upside target of 1260 keeping a stop loss of 1120.
BUY MOTHERSON SUMI
CMP: Rs 161.95
TARGET: Rs 175
STOP LOSS: Rs 153
The stock has indicated a higher bottom formation pattern in the daily chart taking support at 155 levels and shown a bounce back movement to signify strength and has potential to continue the momentum still further upside in the coming days. The RSI has indicated a trend reversal to signal a buy and with consistent volume activity witnessed, we recommend a buy in this stock for an upside target of 175 keeping a stop loss of 153.
Disclaimer: The analyst may have positions in any or all the stocks mentioned above
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