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Nifty outlook and top trading ideas by Vinay Rajani - Technical Analyst, HDFC Securities:
Buy Reliance (Rs 1,092)
Target: Rs 1,140
Stop loss: Rs 1,060
The stock price has recently registered new all-time high at 1109 with rising volumes. By sustaining above 1000, the Stock price has broken out from the last 8 Month’s consolidation pattern on the monthly charts. Price has been forming higher tops and higher bottoms. Moving average and oscillator setup is bullish on short to medium term charts. We recommend Buying Reliance for the upside target of 1140, keeping SL at 1060.
Buy M&M Fin (Rs 485)
Target: Rs 510
Stop loss: Rs
