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Nifty outlook and top two trading ideas by HDFC Securities

Technical calls by Mr. Vinay Rajani, Senior Technical & Derivatives Analyst, HDFC securities.

BSE, Markets
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Photo: Kamlesh Pednekar

Vinay Rajani Mumbai
Nifty View

Nifty is trading in a narrow range of 11,620 to 11,844 for the last six sessions. After gaining 78 points in Tuesday’s trade, the index has reached near the higher band of the range. Any level above 11,844 would result in to a breakout, which could push Nifty towards 12,000. The level of 11,620 would continue to remain support for the Nifty.

BUY INDIAN HOTELS (Rs 159)

Target: Rs 170 

Stop loss: Rs 154

The stock is on the verge of registering new all-time high above Rs 160. The level above Rs 160 would also result in to a multiple top breakout on