Stock recommendations from Anand Rathi: Buy Asian Paints, NIIT Tech

Trading calls by Jay Anand Thakkar, CMT -Assistant Vice President - Equity Research, Anand Rathi Shares and Stock Brokers

NIFTY: BUY | TGT 11700 | SL: 11540

Nifty closed in the negative territory in the last trading session however it has taken a good support at the lower end of the falling channel wherein it seems to have completed wave 4 on the daily charts. The Index has provided a buy crossover on the daily charts, hence wave 5 up is expected, so we recommend buying for the target of 11700 with a stop loss of 11540.

ICICI GI: BUY| TGT: 1450 | SL: 1269

The stock has provided a breakout from the ascending triangular pattern which is a bullish breakout. The