Top trading ideas by Anand Rathi: Buy ACC, Sadbhav Engineering and M&M

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: 12,050 

STOP LOSS: 11,870

Nifty closed in the positive territory in last trading session and it has started to form higher tops and higher bottoms on the hourly charts. The hourly, daily and weekly momentum indicator MACD (moving average convergence divergence) is well into buy mode which is quite positive. The index has a minor hurdle at 11,934 which when taken off will take it to 12,050 levels. The support is pegged at 11,870 levels.

ACC: BUY 

TARGET: Rs 1,846 

STOP LOSS: Rs 1,686

The stock has provided a breakout from the multiple swing resistances with a clear buy crossover in its momentum indicator