Top trading calls by Anand Rathi: Buy Indigo, Motherson Sumi

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: 11,690 

STOP LOSS: Rs 11,530

Nifty has closed in the positive territory in the last trading session and it is now expected to provide a breakout from the range on the upside. The only fear is that it can test the lower end of the range that comes at 11,530; hence that becomes the short term support whereas 11,690 is an immediate resistance i.e. the upper end of the range. Hence, it’s a short-term target.

INDIGO: BUY 

TARGET: Rs 1,500 

STOP LOSS: Rs 1,360

The stock has formed a symmetrical triangular pattern which is a continuation pattern. The momentum indicator MACD has come well