Nifty outlook and top trading ideas from Prabhudas Lilladher for today

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

NIFTY VIEW

Nifty has gradually reached the 10400 level and has indicated a range bound movement around that level forming a small bearish candle. The important resistance of 10450-10470 is nearing and we maintain a cautious view with the 50DMA moving average also hovering around that level. However, the support for the day is seen at 10350 while the resistance would be at 10450 levels.

BUY  ONGC

CMP: Rs 180.20

TARGET: Rs 204

STOP LOSS: Rs 170

The stock has witnessed erosion from the peak of 212 to bottom out