Buy Dhampur Sugars at a target of Rs 168, SL of Rs 120: Prabhudas Lilladher

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

NIFTY VIEW
Nifty is attempting to hold 10,200 levels with all the volatility and other factors bringing a constraint to an up move. Amidst all sectors in a current market scenario, IT and Pharma sectors are well placed which could be the market movers. The support for the day is seen at 34,030/10,220 while resistance is seen at 34,500/10,360. Bank Nifty would have a range of 24,240-24,800. FMCG and Auto continue to be in corrective phase.

BUY AUROBINDO PHARMA
CMP: Rs 766.75
TARGET: Rs 850
STOP LOSS: Rs 710
The stock has made a higher bottom formation pattern in the daily chart with the current positive bullish candle has moved past the 34WMA moving average to signify strength and has potential to rise further in the coming days. The chart looks attractive and with the RSI also indicating a trend reversal has made the bias positive to signal a buy in this stock. With decent consistent volume participation witnessed, we recommend a buy in this stock for an upside target of 850 keeping a stop loss of 710.

BUY DHAMPUR SUGARS
CMP: Rs 142.70
TARGET: Rs 168
STOP LOSS: Rs 120
The stock has been on the rise after the formation of a higher bottom pattern in the daily chart and currently has moved above the significant 200DMA to show strength and we anticipate the stock to move further upward in the coming days. The volume has been on the rise in recent times and with the chart looking good technically, we recommend a buy in this stock for an upside target of 168 keeping a stop loss of 120.

Top trading calls by Anand Rathi Research for today: Buy Tech Mahindra, HUL

Nifty outlook and top trading ideas by Jay Anand Thakkar, CMT -Assistant Vice President - Equity Research, Anand Rathi Research:

NIFTY: BUY
TARGET: 11,157
STOP LOSS: 10,920
Nifty closed well in the positive territory in the last trading session and has formed a bullish engulfing candlestick pattern which is quite a positive sign for the bulls in the short term. On the lower side, the Index has again taken a good support at its 200DMA which is also quite positive in the short term. So, now till 10775 levels aren’t broken the Index can bounce till 11157 levels.

TECH MAHINDRA: BUY
TARGET: Rs 839
STOP LOSS: Rs 724
The stock has formed a symmetrical triangular pattern and the momentum indicator has also provided a buy crossover on the daily charts which is a positive sign going forward. The minimum target comes to 839; one can buy this with a stop loss of 724 levels.

AUROBINDO PHARMA: BUY
TARGET: Rs 810
STOP LOSS: Rs 730
The stock seems to have completed a three wave corrective fall and with that, it seems to have completed a wave 4 correction on the daily, as well as weekly charts. Now, wave 5 up seems to have started which has a minimum target of 810 and thereafter 730 levels.

HINDUSTAN UNILEVER: BUY
TARGET: Rs 1,680
STOP LOSS: Rs 1,610
The stock seems to have completed a five-waves declining structure and a three wave corrective bounce is expected. The daily momentum indicator MACD has come into buy mode, hence we recommend buying this stock.

Top trading ideas by Anand Rathi Research: Buy Raymond, SAIL

Nifty outlook and top trading ideas by Jay Anand Thakkar, CMT -Assistant Vice President - Equity Research, Anand Rathi Research:

NIFTY: BUY
TARGET: 11,550
STOP LOSS: 11,249
The Index closed in the negative territory in the last trading session, however, the last weekly close was quite positive and it had formed a “Hammer” candlestick pattern which is a bullish reversal pattern. On the lower side, 11,250 is a crucial support where on the upside minimum target comes to 11,550, hence we recommend maintaining long positions.

RAYMOND: BUY
TARGET: Rs 875
STOP LOSS: Rs 755
The stock seems to have completed a five wave declining structure on the weekly charts and a reversal from lower levels has happened. A minimum of 38.2% retracement of the entire fall is expected, hence in anticipation of a bounce one can buy for the target of 875 with a stop loss of 755.

SAIL: BUY
TARGET: Rs 83.50
STOP LOSS: Rs 75
The stock has formed a “Hammer” candlestick pattern on the weekly charts. It has also started to form higher tops and higher bottoms which is also a positive sign. The momentum indicator MACD is well in buy mode on daily charts as well as weekly charts, hence we recommend buying this stock.

AUROBINDO PHARMA: BUY
TARGET: Rs 830
STOP LOSS: Rs 769
The stock has provided a breakout from the downtrend line resistance with an increase in volumes and positive crossover in its momentum indicators which increases the probability of an upside.

Top trading ideas by Anand Rathi Research: Buy Raymond, Bajaj Auto

Nifty outlook and top trading ideas by Jay Anand Thakkar, CMT -Assistant Vice President - Equity Research, Anand Rathi Research:

NIFTY: BUY
TARGET: 11,653
STOP LOSS: 11,501
The Index closed in the positive territory in the last trading session and it has again formed a life time high. The Index after having broken 11,495 on the upside has confirmed the extension on the upside, hence the minimum equality target on the upside comes to 11,653 whereas on the lower side 11,501 becomes a crucial support.

RAYMOND: BUY
TARGET: Rs 830
STOP LOSS: Rs 755
The stock has formed a falling wedge pattern on the daily charts in the fifth wave of the five wave falling structure. A minimum of 23.6% to 38.2% retracement is expected and in that process the stock is expected to bounce back till 830 levels. The support on the lower side is pegged at 755 levels.

BAJAJ AUTO: BUY
TARGET: Rs 2,840
STOP LOSS: Rs 2,688
The stock has started to retrace the five waves declining structure with a buy crossover in its momentum indicator MACD. The minimum target on the upside comes to 2840 whereas the support on the lower side is pegged at 2688.

AUROBINDO PHARMA: BUY
TARGET: Rs 690
STOP LOSS: Rs 640
The stock has provided a breakout from the cup and handle pattern which is a bullish reversal pattern. The momentum indicator has also come into buy mode which is quite positive for the stock. So, we recommend buying this stock for the target of 690 with a stop loss of 640.

Aurobindo Pharma receives USFDA observations, say reports; stock falls 5%

Aurobindo Pharma has dipped 5.4% to Rs 590 at the BSE in early morning exchange after the media reviews suggested that the agency has acquired nine observations from america drug regulator for one in every of its Hyderabad units.

“the us meals and Drug administration (USFDA) have issued shape 483 with 9 observations to Aurobindo Pharma constrained's unit four in Hyderabad, mentioning severe deficiencies in keeping the manufacturing exceptional requirements,” the business trendy suggested.
The FDA representatives had inspected the facility among February 12 and 20, 2018, it delivered.
The stock of pharmaceutical organization had outperformed the market through gaining 9% from its recent low of Rs 571 on February 21, 2018, in comparison to 1% upward thrust in the S&P BSE Sensex till Thursday, February 28.
At 09:35 am; Aurobindo Pharma changed into trading at Rs 591, down 5%, towards 0.79% decline inside the benchmark index.

A combined 2.fifty one million shares changed fingers at the counter on the BSE and NSE up to now.

Get live updates on Market