Nifty outlook and top trading ideas by Jay Anand Thakkar, CMT -Assistant Vice President - Equity Research, Anand Rathi Research.
TARGET: Rs 10,870
STOP LOSS: Rs 10,630
Nifty has been consolidating within a range of 10630-10980 levels and it has formed a symmetrical triangular pattern. Now, since the trend was up prior to this consolidation, so a breakout is expected on the upside. On the lower side, the support is pegged at 10630 levels and till those levels are not broken we continue to maintain our short term as bias positive for the target of 10980 levels.
TARGET: Rs 280
STOP LOSS: RS 255
The stock has formed a nice symmetrical triangular pattern and it seems to have completed a wave e, hence the probability of an upside from current levels is quite high. The momentum indicator has now come well into buy mode.
TARGET: Rs 287
STOP LOSS: Rs 470
The stock has formed a symmetrical triangular pattern and it has provided a buy crossover in its hourly as well as daily momentum indicators.
TARGET: Rs 710
STOP LOSS: Rs 670
The stock has provided a breakout from the falling channel with a clear buy crossover in its momentum indicators on the daily as well as weekly charts which is quite bullish in the short term.
Disclaimer: The analyst may have positions in any or all the stocks mentioned above