Top trading calls by Anand Rathi: Sell Amara Raja Batteries, Lupin

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

NIFTY: BUY 

TARGET: 10980 

STOP LOSS: 10750 

Nifty closed in the negative territory in the last trading session and it has broken it previous swing support of 10588 levels. Now, it has started to form lower tops and lower bottoms on the daily chart which is a negative sign going forward. Now, on the upside, the resistance is pegged at 10704 levels whereas the support is pegged at 10440 levels. Below 10440 Nifty can slide till 10150 levels.  The momentum indicators are in sell