Nifty outlook and few trading ideas by Vaishali Parekh, Research Analyst - Technical Research at Prabhudas Lilladher:
NIFTY VIEW:
Markets witnessed a volatile session to see a dip midway by way of profit booking activity but finally in the last leg of the session saw short covering to close on the positive side. The support for the day is seen at 10180 while resistance is seen at 10320.
BUY MAH INDRA& MAHINDRA
CMP: Rs 1,431.60
TARGET: Rs 1,510
STOP LOSS: Rs 1,380
The stock has been moving in an upward trend with a series of higher bottom formation pattern in the daily chart and technically is poised for further gains in the coming days. With the indicators looking favourable thus supporting our view of a positive bias, we anticipate a price rise in the stock and with decent volume participation witnessed, we recommend a buy in this stock for an upside target 1510 of keeping a stop loss of 1380
BUY L&T FINANCE HOLDINGS
CMP: Rs 163.75
TARGET: Rs 180
STOP LOSS: Rs 150
The stock has witnessed a decent correction in the recent past and we anticipate a bottom formation has been maintained at current levels. We expect a rise from here on to scale till 180 levels with potential. With good volume activity seen, Disclaimer: The analyst may have positions in any or all the stocks mentioned above, we recommend a buy in this stock for an upside target of 180 keeping a stop loss of 152
Disclaimer: The analyst may have positions in any or all the stocks mentioned above.