Top trading ideas by Anand Rathi Research for today: Buy Lupin, Axis Bank

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

NIFTY: SELL 

Target: 11,312 

Stop Loss: 11,560

The Index closed in the positive territory in the last trading session and it has formed a bearish head and shoulders pattern on the daily charts. The momentum indicator too is in sell mode, hence we recommend to sell Nifty for the target of 11312 levels with a stop loss of 11560 levels.

AXIS BANK: BUY 

Target: Rs 176 

Stop Loss: Rs 165

The stock has formed a symmetrical triangular pattern in its wave 4 and wave 5 up is likely.