 "Weekly market outlook and two trading ideas by Prabhudas Lilladher")
NIFTY VIEW
Market continues to be rangebound and doesn't seem clear about the direction; so, technically, Nifty needs to take support and hold on to 10,850 levels to expect a rise to 11,200-11,300 levels. Else, a break of 10,850 brings in further slide. This being a truncated week market would have a weekly range of 36,580/10,780 for Sensex and Nifty, respectively, while resistance would be at 37,940/11,220. Bank Nifty would have a range of 26,650-28,050 levels. Metal stocks look attractive at these levels.
BUY TATA CHEM
CMP: Rs 584.30
TARGET: Rs 640
STOP LOSS: Rs 545
