Nifty outlook and trading ideas by HDFC Sec: Buy SBI, Glenmark Pharma

On Tuesday, the stock of SBI has given breakout from the downward sloping trend line

Markets getting strong technically; Expect Bank Nifty to Outperform

Nifty has been trading in the downward sloping channel on the daily charts. Close above 14750 would result in to fresh breakout on short term charts. Support has shifted up to 14500 odd levels and traders should remain long with that stop loss. Above 14750, Nifty could extend the rally towards 14980. BankNifty looks strong and is expected to outperform the Nifty in the coming days.

Stock picks:

Buy SBI (354) | Target: Rs 374 | Stop-loss: Rs 340

The stock witnessed healthy correction from 427 to 321 in the period of