Top trading ideas from Prabhudas Lilladher: Buy BF Utilities, NCC

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

NIFTY VIEW
Nifty once again maintained the positive bias despite some hiccups midway to recover strongly now to near the 10600 mark. Technically, once again as said earlier, Nifty may find a resistance at 10560 levels and if breached, the next hurdle would be around 10630 and both these levels would be crucial in deciding the further movement on either side. However, the support for the day is seen at 10490 while the resistance would be at 10600 levels.

BUY BF UTILITIES
CMP: Rs 420.70
TARGET: Rs 465
STOP LOSS: Rs 395
The stock has moved above the consolidation range of 395 and 413 levels and currently with a positive bullish candle pattern in the daily chart has signified strength to carry on the positive momentum still further upside and can scale up to 465 levels. The RSI has turned positive with a trend reversal to signal a buy and with increasing volume participation witnessed, we recommend a buy in this stock for an upside target of 465 keeping a stop loss of 395.

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