Buy GAIL with a target of Rs 397, stop loss of Rs 375: Anand Rathi Research

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

NIFTY: BUY
Target: 11,420
Stop Loss: 11,085
Nifty closed in the negative territory in the last trading session in the last trading session and it has broken the previous swing low of 11,250 levels which is a negative reversal. The Index has started to form lower tops and lower bottoms and so now till the previous swing high is not taken off then trend remains down. The resistance on the upside is pegged at 11,525 levels whereas the support is pegged at 11,085 levels.

DEEPAK NITRATE - BUY
Target - Rs 329
Stop Loss - Rs 276
The stock has started to form higher tops and higher bottom with a reversal in its momentum indicator MACD. The Stock seems to have started wave III of wave 5 up.

TECH MAHINDRA - BUY
Target - Rs 794
Stop Loss - Rs 755
The stock has been rising in an upward sloping parallel channel with an increase in volumes and buy crossover in its momentum indicator MACD. The wave III of wave 5 up seems to have started.

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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.

Top trading ideas by Anand Rathi Research: Buy Sun Pharma, Lupin, M&M

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

NIFTY: BUY
TARGET: 11,402
STOP LOSS: 11,230
The Index closed well in the positive territory on the first day of the trading week. The Index continues to form higher tops and bottoms and with that fresh life time highs. So, one can continue to remain long on Nifty futures for the short term target of 11402 with a stop loss of 11230 levels.

SUN PHARMA: BUY
TARGET: Rs 585
STOP LOSS: Rs 550
The stock has again provided a breakout from the falling trend line which is a positive sign going forward. The momentum indicators are absolutely bullish which confirms that the bulls have an upper hand.

LUPIN: BUY
TARGET: Rs 860
STOP LOSS: Rs 810
The stock has formed a double bottom pattern on the daily charts with a buy crossover in its momentum indicator on the hourly charts. The minimum target on the upside is 860, one can buy this with a stop loss of 810

M&M: BUY
TARGET: Rs 950
STOP LOSS: Rs 915
The stock has provided a breakout from the symmetrical triangular pattern which is a bullish reversal pattern. The momentum indicator here too is well in buy mode, hence we recommend buying this stock

Top trading ideas by Anand Rathi Research: Buy Ujjivan, Pidilite, Sterlite

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

NIFTY: BUY
TARGET: 11,240
STOP LOSS: 11,120
The Index closed well in the positive territory on the F&O expiry day, hence the trend continues to remain up. The Index continues to form higher tops and higher bottoms which is a positive sign in the short term. The momentum indicator MACD too continues to remain in the positive territory which is a positive sign, so based on these parameters we think one can buy Nifty for the target of 11240 with a stop loss of 11120.

UJJIVAN FINANCIAL SERVICES: BUY
TARGET: Rs 410
STOP LOSS: Rs 380
The stock has formed a bullish reversal pattern a “Double bottom” pattern. The momentum indicator is also well in the buy mode thus confirming an uptrend. So, we recommend buying UJJIVAN for the target of 410 with a stop loss of 380.

PIDILITE INDUSTRIES: BUY
TARGET: Rs 611.50
STOP LOSS: Rs 570
The stock has provided a breakout from a double bottom pattern which is a bullish reversal pattern. The hourly MACD has come into buy mode thus confirming an upward breakout. The stock seems to have competed a wave 4 correction and with that it has taken support at the lower end of the rising channel, hence we recommend buying PIDILITE.

STERLITE TECHNOLOGIES: BUY
TARGET: Rs 364
STOP LOSS: Rs 320
The stock has provided a breakout from the inverse head and shoulders pattern which is a bullish reversal pattern. The daily momentum indicators are well in the buy mode thus confirming an upside. On the daily charts the stock seems to have completed a wave 4 correction and wave 5 up should resume soon.