Top stock recommendations from Anand Rathi: Buy Deepak Nitrite, Mcdowell

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

NIFTY: SELL | TGT: 12,000 | SL: 12,231

Nifty closed in the negative territory on Thursday and with that it appears that the index has a resistance at 12,231. On the lower side, the index is likely to slip till 12,000 levels which is the next immediate support. The momentum indicator MACD is in the sell mode on the hourly charts, hence the probability of the index having formed expanded flat is quite high.

MCDOWELL: BUY | TGT: Rs 801 | SL: Rs 649

The stock has provided a breakout from the ascending triangular pattern with a clear buy crossover in its daily