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Nifty outlook and top trading ideas by Prabhudas Lilladher for today

Nifty outlook and few trading ideas by Vaishali Parekh, Research Analyst - Technical Research at Prabhudas Lilladher:

Photo: Shutterstock
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Photo: Shutterstock

Vaishali Parekh
NIFTY VIEW: 
Nifty has got its daily trend tuned down after 8 days & on daily chart we see RSI leaving the overbought zone to show signs of profit booking. The support for the day is seen at 10,650 while resistance is seen at 10,750. We maintain a cautious view & stay light on trades.


BUY ICICI BANK
CMP : Rs 334.10
TARGET : Rs  360
STOP LOSS : Rs 320

The stock has given a good run in the past 2-3 days and has indicated a breakout above the previous peak level of Rs 332 to signify a positive bias