Top trading calls by Anand Rathi: Buy Balkrishna Ind, Praj Ind and Ceat

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

NIFTY: BUY 

TARGET: 10,930 

STOP LOSS: 10830

Nifty has been forming higher tops and higher bottoms on the hourly charts and it has retraced 50 per cent of the recent eight-day fall. The index is expected to retrace 61.8 per cent of the entire fall; hence, the short-term target stands at 10,930, whereas the stop loss is pegged at 10,830.

BALKRISHNA INDUSTRIES:  BUY 

TARGET: Rs 905 

STOP LOSS: Rs 845

The stock has provided a breakout from the symmetrical triangular pattern on the daily as well as hourly charts. The daily as well as hourly momentum indicator is also well