Top trading calls by Anand Rathi: Buy Bajaj Finance, Sun Pharma

Nifty outlook and top trading ideas by Jay Anand Thakkar, CMT -Assistant Vice President - Equity Research, Anand Rathi Research:
 

NIFTY: BUY 
 

TARGET: 10,650 
 

STOP LOSS: 10,409
 

Nifty closed in the positive territory in the last trading session after having closed in the positive territory in the last week after five consecutive negative closes. So, a retracement of the entire fall is expected in the short term. The fall appears to an impulsive one on the daily chart; hence the recent bounce is a bounce in wave B up. The index has also formed a “Morning Star Reversal” Candlestick pattern.