Top stock picks by Anand Rathi: Buy Tech Mahindra, HUL, NIIT Tech

Nifty outlook and top trading ideas by Jay Anand Thakkar, CMT - Assistant Vice President - Equity Research, Anand Rathi Shares and Stock Brokers.

BUY NIFTY

TARGET: 10,600

STOP-LOSS: 10,864

The Nifty closed deep in the negative territory on Thursday, and with that the wave Z/5 seems to have formed. The Index is likely to fall till 10,600 levels in the short term whereas on the upside there exists a resistance at 10,840 levels; hence, till those levels aren’t broken, the overall outlook remains negative, so we recommend selling for the target of 10,600 with a stop loss of 10,864.

BUY HINDUSTAN UNILEVER

TARGET: Rs 1,980

STOP-LOSS: Rs 1,830

The stock has provided a breakout from the rectangular pattern that is formed on