Top trading calls by Anand Rathi: Buy Torrent Power, Sell Hindalco

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

NIFTY: SELL 

TARGET: 10,550 

STOP LOSS: 10,760

Nifty closed almost in the negative territory in the last trading session. It has five waves declining structure on the hourly charts which is a negative sign in the short term, hence any bounce should be utilized as a selling opportunity in the short term. The minimum equality target in the short term comes to 10550 levels whereas the resistance is pegged around 200DMA i.e. 10760 levels.

TORRENT POWER: BUY 

TARGET: Rs 274 

STOP LOSS: Rs 252