 "For a liquid secondary market")
Nifty outlook and few trading ideas by Vaishali Parekh, research analyst - technical research at Prabhudas Lilladher:
NIFTY VIEW
NIFTY VIEW
Nifty with a run from 10480 to 10740 levels is likely to consolidate or witness some profit booking. Bank Nifty still continues to stay positive while Metal sector still has some scope of correction. The support for the day is seen at 35480/10660 while resistance is seen at 35960/10800. Bank Nifty would have a range of 26180-26740.
BUY L&T FINANCE
CMP: Rs 139
TARGET: Rs 160
STOP LOSS: Rs 125
The stock has been consolidating at around 274 levels and currently has produced a positive bullish candle pattern in the daily chart to signify strength and potential to rise further in the coming days. It has given a close above the cluster of moving averages which is significant. The RSI indicator also has confirmed the buy signal with a trend reversal and we anticipate this stock to rally up to 160 levels. We recommend a buy in this stock keeping a stop loss of 125
BUY SHRIRAM TRANSPORT FINANCE
CMP: Rs 1133.20
TARGET: Rs 1200
STOP LOSS: Rs 1075
The stock has made a good correction from around 1275 price to consolidate near the 1080 levels which is forming a good support level. The stock has rallied with good volume participation and with the positive indicator like RSI, we anticipate this stock to move further upwards to around 1200 levels. We recommend a buy in this stock keeping a stop loss of 1075 for an upside target of 1200.
Disclaimer: The analyst may have positions in any or all the stocks mentioned above.
