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Nifty outlook and top trading calls for today's trade: Prabhudas Lilladher

Vaishali Parekh/Mumbai 05 Oct 17 | 08:26 AM

Few trading ideas by Vaishali Parekh, Research Analyst - Technical Research at Prabhudas Lilladher:


NIFTY VIEW:

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Nifty has managed to bounce well after taking a support at 9700 levels; it now needs to cross the hurdle of 9950-10000 levels for this rally to go on. The support for the day is seen at 9870 while the resistance is seen at 9960.


BUY AUROBINDO PHARMA  


CMP: Rs 707.65        

TARGET: Rs 800    

STOP LOSS: Rs 680


The stock has made a decent correction from Rs 776 to Rs 665 and from there on it has made a V shape recovery in the daily chart indicating a pull back along with rising RSI indicator. We anticipate further upward move and expect some more buoyancy to take the stock to 800 and above levels. We recommend a buy in this stock for an upside target of Rs 800 keeping a stop loss of Rs 680.

  

BUY SOUTH INDIAN BANK     


CMP: Rs 28      

TARGET: Rs 32      

STOP LOSS: Rs 27


The stock has been consolidating for quite some time around the Rs 27 and has maintained a good support. The stock has made a good positive candle pattern and we anticipate the stock to rise further till around Rs 32. With the RSI also turning up with positive indications, we recommend a buy in this stock for an upside target of Rs 32 keeping a stop loss of Rs 27.


BUY NILKAMAL    


CMP: Rs 1053.35       

TARGET: Rs 1750      

STOP LOSS: Rs 1400


The stock has been consolidating around the range Rs 1520 and Rs 1620 for quite some time and now it has given a breakout with decent volume. The RSI indicator also has signaled a Buy by reversing its trend in the positive direction. We recommend a buy in this stock for an upside target of Rs 1750 keeping a stop loss of Rs 1400.


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

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