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:

NIFTY VIEW:
The day witnessed yet a gap up opening for Nifty to scale a new high of 10,887, Sensex 35,507 & Bank Nifty 26,887, while mid cap sector corrected & took a beating to correct to above 2%. The support for the day is seen at 10,760 while resistance is seen at 10,870.

BUY UPL
CMP : Rs 800.50
TARGET : Rs 870
STOP LOSS : Rs 760

The stock after making a bottom at around Rs 684 levels has recovered significantly and is in an upward trending mode and we anticipate it to rise further with potential and strength upto Rs 870 levels. The RSI has been on the rise and is showing a positive bias, we recommend a buy in this stock for an upside target of Rs 870 keeping a stop loss of Rs 760.

BUY IBHSG
CMP : Rs 1,243.70
TARGET : Rs 1,360
STOP LOSS : Rs 1,180

The stock has been in a consolidation phase for quite some time and now has indicated a positive candle pattern in the daily chart to signify positive bias with potential and strength to rise further upwards. The RSI has shown a positive bias with volume activity improving, we recommend a buy in this stock for an upside target of Rs 1,360 keeping a stop loss of Rs 1,180.

Disclaimer: The analyst may have positions in any or all the stocks mentioned above.