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Top trading ideas by Prabhudas Lilladher: Buy Hero MotoCorp, Bharat Forge

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

Markets, Buy, Sell, Stocks
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Vaishali Parekh Mumbai
NIFTY VIEW
 
Nifty eroded some of its gains from the peak levels and now with the daily trend down, the level of 11,500 would be crucial, which, if broken, can bring about further fresh selling pressure. BankNifty also would have a significant level of 29,600 which needs to sustain. However, the support for the day would be seen at 38,400/11,530 levels while the resistance would be at 38,980/11,670 levels. BankNifty would have a range of 29,580-30,240.

BUY HERO MOTOCORP
CMP: Rs 2,580.45
TARGET: Rs 2,800
STOP LOSS: Rs 2,500

The stock has recently corrected from the peak of Rs 2,850 levels and has bottomed out