Top trading ideas by Anand Rathi: Buy Raymond, Bharti Infratel; sell USL

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

NIFTY: SELL 

TARGET: 11,500 

STOP LOSS: 11,655

Nifty settled in the negative territory in the last trading session with INDIA VIX rising by more than 10 per cent. The index has been in consolidation since a couple of weeks and now the range is likely to break on the lower side. The minimum target on the lower side comes to 11,500 whereas the resistance is pegged at 11,655 levels. The momentum indicator moving average convergence divergence (MACD) is in sell mode on the daily charts which is a negative sign for the short term.

UNITED SPIRITS: SELL 

TARGET: Rs 495 

STOP LOSS: Rs 540

The stock has provided a breakdown from the symmetrical triangular pattern on the daily charts with a sell crossover in its daily as well as weekly momentum indicator. The overall trend seems to have reversed from up to down; hence, we recommend selling it for the target of Rs 495.

RAYMOND:  BUY 

TARGET: Rs 840 

STOP LOSS: Rs 780

The stock has provided a breakout from the falling trend line with a buy crossover in its short term momentum indicator MACD. The index seems to have started another impulse on the way up; hence, we recommend buying this stock.

BHARTI INFRATEL:  BUY 

TARGET: Rs 290 

STOP LOSS: Rs 260

The stock seems to have completed a three wave corrective fall on the hourly charts and now another bounce with a five waves rising structure is expected on the way up; hence, we recommend buying this stock. 

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Disclaimer: The analyst may have positions in any or all the stocks mentioned above.