Live Markets »News & Advice»Market News»Market News Details
Market News Details
Back

Nifty outlook and few trading ideas by Prabhudas Lilladher for today

Vaishali Parekh/ 13 Mar 18 | 08:04 AM

Photo: Shutterstock.com

Nifty outlook and few trading ideas by Vaishali Parekh, Research Analyst - Technical Research at Prabhudas Lilladher:

Related Stories

    No Related Stories Found
Widgets Magazine

NIFTY VIEW

The daily trend in Nifty & Bank Nifty has turned positive after 5 and 6  days respectively. This would still be considered a bounce back rally after Nifty respecting the support of 200dma, a decisive move past 10440 would give further targets of 10500-10600 levels. Private sector banks would still be a good buy compared to PSU, also FMCG sector with ITC, HUL look positive for days to come. The support for the day is seen at 10360 while resistance is seen at 10480.


BUY  HDFC LTD      

CMP : Rs 1858.05        

TARGET : Rs 2000      

STOP LOSS : Rs 1770               

The stock has made a more or less double bottom formation in the daily chart at around 1760 levels and has recovered significantly to give a breakout above the peak of 1850 and has indicated a positive bias with more further upside potential to scale. The RSI has shown a steep rise from the oversold zone to indicate strength and with consistent volume activity seen, we recommend a buy in this stock for an upside target of 2000 keeping a stop loss of 1770.


BUY  RAYMOND    

CMP : Rs 923.45        

TARGET : Rs 1020      

STOP LOSS : Rs 870    

The stock has formed a higher bottom formation pattern in the daily chart at around 874 levels and also we can say that it has taken support at the 200 DMA moving average and a rise from here on is anticipated. The RSI has indicated a trend reversal to signal a buy and with good volume participation witnessed, we recommend a buy in this stock for an upside target of 1020 keeping a stop loss of 870.


BUY  NETWORK 18 BRDCST    

CMP : Rs 53.80        

TARGET : Rs 62        

STOP LOSS : Rs 49     

The stock has been maintaining a strong support at around 47.50 levels for quite some time and currently has indicated a pullback to show a positive bias moving above the 200 DMA moving average to witness a breakout. The RSI is indicating a bullish view for the coming days. The chart looks attractive for more upside and with good volume activity witnessed, we recommend a buy in this stock for an upside target of 62 keeping  a stop loss of 49.

Disclaimer: The analyst may have positions in any or all the stocks mentioned above.

Widgets Magazine

Sensex

Company Price Gain (%)
ICICI Bank297.551.47
Reliance Inds.1,032.351.22
H D F C1,855.250.47
Tata Motors306.550.31
Infosys1,246.350.24

Poll

Currently No Poll Available.

Online Portfolio

You can create Online Portfolio here using the below button.

Widgets Magazine