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Top trading ideas by Prabhudas Lilladher: Buy Bajaj Auto, Kansai Nerolac

Nifty outlook and top trading ideas by Vaishali Parekh, research analyst - technical research at Prabhudas Lilladher.

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Vaishali Parekh Mumbai
NIFTY VIEW

The Nifty is gradually progressing holding the 11,000 levels with RSI on the daily chart at 62 bringing in scope for further upside; however, in between dips cannot be ruled out. Among the Nifty 50, most of the heavyweights have got their weekly trend turned up. Support for the week is seen at 36,000/10,820 while resistance is seen at 37,280/11,230. Bank Nifty would have a range of 27,100-28,370. RIL, ICICI, Axis, Kotak, ITC, Hero etc. look promising from hereon.

BUY BAJAJ AUTO
CMP: Rs 2,955.70
TARGET: Rs 3,180
STOP LOSS: Rs 2,870

The stock has indicated a breakout above the Rs 2,945 levels in