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Nifty outlook and top trading ideas by Prabhudas Lilladher for today

Vaishali Parekh/Mumbai 11 Oct 18 | 06:43 AM

Nifty outlook and few trading ideas by Vaishali Parekh, research analyst - technical research at Prabhudas Lilladher:


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The market gives a much-awaited bounce with Nifty making a high of 10,482. This bounce can be further expected to 10550 levels. Support for the day is seen at 34,540/10,400 while resistance is seen at 35,000/10,520. Bank Nifty would have a range of 25000-25,620. This would still be considered as a bounce-back rally unless we sustain above 10,550, we would have a further projection of 10,800 target.


CMP: Rs 1,638      

TARGET: Rs 1,800     

STOP LOSS: Rs 1,500

The stock has given a decent correction from the peak of 2038 to 1551 and takes support at around 1500 levels and now it has gradually regained strength indicating a positive bias. We anticipate the stock to rise further in the coming days with strength and potential and with most of the indicators in a positive strength and with good decent volume activity seen, we recommend a buy in this stock for an upside target of 1800 keeping a stop loss of 1500.


CMP: Rs 2,484      

TARGET: Rs 2,800       

STOP LOSS: Rs 2,200

The stock has corrected from the peak of 2670 and currently has shown signs of bottoming out at around 2330 levels and produced a positive bullish candle to signify strength. It has maintained above the significant 200 DMA moving average, we anticipate a further rise from here on in the coming days. With decent volume participation witnessed, we recommend a buy in this stock for an upside target of 2800 keeping a stop loss of 2200.

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

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Company Price Gain (%)
Yes Bank114.5510.94
Sun Pharma.Inds.390.604.01
IndusInd Bank1,435.503.80
Larsen & Toubro1,556.153.36
ICICI Bank433.353.20


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