 "markets, stocks, sensex, nifty, bse, nse")
Nifty outlook and few trading ideas by Vaishali Parekh, Research Analyst - Technical Research at Prabhudas Lilladher:
NIFTY VIEW:
Nifty has the level of 10,250 as a strong hurdle to cross; market continues to move sideways with near term support at 10,140. Not much can be expected ahead of long weekend. The support for the day is seen at 10,160 while resistance is seen at 10,250.
BUY RECL
CMP: Rs 159.55
TARGET: Rs 176
STOP LOSS: Rs 148
The stock has witnessed a steady correction from the levels of 224 and now has been consolidating at around 150 -155 levels for quite some time and has maintained a strong support at 150 level. With a positive candle pattern formation, it is now showing potential and strength to rise further significantly in the coming days and along with RSI showing a trend reversal accompanied by good volume activity, we recommend a buy in this stock for an upside target of 176 keeping a stop loss of 148
BUY BEL
CMP: Rs 172.65
TARGET: Rs 192
STOP LOSS: Rs 164
The stock has made a higher bottom formation in the daily chart recently and has recovered significantly from thereon to show strength and potential to rise further. The stock is anticipated to give a breakout above the previous peak of 180 and technically is in a upward trending mode. With RSI also on the rise and decent volume participation, we recommend a buy in this stock for an upside target of 192 keeping a stop loss of 164
BUY IBREAL ESTATE
CMP: Rs 215.55
TARGET: Rs 250
STOP LOSS: Rs 200
The stock has made a higher bottom formation like pattern in the daily chart and the stock looks attractive for an up move while maintaining a good support at around 208-210 levels. The stock has been gathering potential to rise further and we anticipate it reach to the previous level of 258 from here on. With good volume activity seen, we recommend a buy in this stock for an upside target of 250 keeping a stop loss of 200
Disclaimer: The analyst may have positions in any or all the stocks mentioned above.
