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

Nifty outlook and top trading ideas from Prabhudas Lilladher for today

Vaishali Parekh/ 16 Apr 18 | 06:23 AM

Photo: Shutterstock.com

NIFTY VIEW: Technically, Nifty has retraced almost 44% of the fall from the peak of 11171 to the low made at 9950 levels and there were some signs of exhaustion at around 10520 levels. The chances of Nifty cruising ahead to 10600-10630 levels cannot be ruled out where we anticipate a strong barrier which has witnessed a resistance on 2-3 previous occasions. However, the support for the week is seen at 10300 while the resistance would be at 10640 levels. 

Related Stories

    No Related Stories Found
Widgets Magazine


BUY ESCORTS

CMP: Rs 946.20

TARGET: Rs 1050

STOP LOSS: Rs 905


The stock has been consolidating for quite a while around the 922 levels where there was a strong resistance and currently has given a breakout above that level of 922 and signifies strength and potential to rise further in the coming days. Also, the RSI has given a trend reversal to signal a buy in the stock. The chart looks attractive and with consistent volume participation witnessed, we recommend a buy in this stock for an upside target of 1050 keeping a stop loss of 905.


BUY RASHTRIYA CHEM

CMP: Rs 81.75

TARGET: Rs 90

STOP LOSS: Rs 77


The stock has witnessed a decent correction from the peak of 111 and has bottomed out at around 72 levels to form a more or less double bottom formation pattern in the daily chart. The stock has given a bounce back and currently has indicated a breakout above the 50 DMA and the previous peak level of 81.50 to signify a positive bias and strength to move further upwards in the coming days. With good tremendous volume witnessed in the previous session, we recommend a buy in this stock for an upside target of 90 keeping a stop loss of 77.


BUY  DHFL

CMP: Rs 547.55

TARGET:  Rs 590

STOP LOSS: Rs 526


The stock has been in consolidation phase for quite some time and has currently indicated a bullish candle pattern in the daily chart to signify a breakout and also it has crossed above the significant 200 DMA level which was at 543. The RSI has indicated a trend reversal with a positive bias to signal a buy and with good consistent volume participation witnessed, we recommend a buy in this stock for an upside target of 590 in the coming days keeping a stop loss of 526.


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

Widgets Magazine

Sensex

Company Price Gain (%)
Tata Steel620.553.17
Yes Bank318.002.83
Bharti Airtel394.952.64
Larsen & Toubro1,384.301.74
Power Grid Corpn208.201.61

Poll

Currently No Poll Available.

Online Portfolio

You can create Online Portfolio here using the below button.

Widgets Magazine