Buy Asian Paints for target of Rs 1370, SL of Rs 1190: Prabhudas Lilladher

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

NIFTY VIEW
Nifty with its one way fall from 11,750 to a low of 10,200 with oversold zone, a bounce is expected up to 10,500-10,550. The support for the day is seen at 34,220/10,280 while resistance is seen at 34,730/10,420. Volatility index too in its overbought zone, its time it retraces which would bring instability under control. Bank Nifty would observe a range of 24,350-24,880. A close below 10,260 would negate the view and perhaps witness new round of selling.

BUY ASIAN PAINTS
CMP: Rs 1,247.80
TARGET: Rs 1,370
STOP LOSS: Rs 1,190
The stock has corrected from the peak of 1490 and currently has shown signs of bottoming out at around 1190 levels and produced a positive bullish candle to signify strength and potential to rise further in the coming days. The chart looks attractive for initiating a buy call and with RSI indicating a trend reversal from the highly oversold zone, a positive bias has been maintained. With good volume participation witnessed, we recommend a buy in this stock for an upside target of 1370 keeping a stop loss of 1190.

BUY BATA INDIA
CMP: Rs 893.80
TARGET: Rs 1,000
STOP LOSS: Rs 840
The stock has witnessed a steep correction in the past one month from the peak of 1115 to indicate signs of bottom out at around 845 levels and has made the chart look very attractive. The RSI has witnessed a steep fall and currently from the oversold zone has indicated a pullback with a trend reversal to maintain a positive bias and also with good volume activity maintained in the stock, we recommend a buy in this stock for an upside target of 1000 keeping a stop loss of 840.

Buy Biocon for a target of Rs 730, stop loss at Rs 650: Prabhudas Lilladher

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

NIFTY VIEW
Nifty has corrected by 7.5% from the peak of 11,750 levels, however, has recovered from the intraday low of 10866, but still no clarity on market bottoming out. 200 DMA lies at 10,750 levels with the RSI at 37. Bank Nifty too corrected by 11.8%, already broken the 200 DMA. The bias remains corrective until we see some signs of reversal. The support for the week is seen 36,060/10,900 while resistance is seen at 37640/11400. Bank Nifty would have a range of 24,830-26,380. OMCs are now showing some signs of reversal.

BUY BIOCON
CMP: Rs 676.90
TARGET: Rs 730
STOP LOSS: Rs 650
The stock has maintained its rising trend in spite of the weak market scenario maintain above the significant moving averages of 50DMA and 200 DMA and look poised for further still upward move in the coming days. The RSI is on the rise and with improving volume participation, we recommend a buy in this stock for an upside target of 730 keeping a stop loss of 650.

BUY IOC
CMP: Rs 158.15
TARGET: Rs 180
STOP LOSS: Rs 148
The stock has maintained a strong support at around 150 levels and has indicated a decent revival to signify strength and has potential to rise further. The stock has almost given a breakout above the 50DMA and with the RSI on the rise has maintained the positive bias. With good volume participation witnessed, we recommend a buy in this stock for an upside target of 180 keeping a stop loss of 148.

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Stock calls by Prabhudas Lilladher for today: Buy M&M, Bajaj Finance

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

NIFTY VIEW
Nifty has managed to hold its weekly trend in positive above 11,583 while Bank Nifty has turned down its weekly trend after 8 weeks. The weightage amongst the Nifty 50 stocks is equally distributed between the positive & negative. The support for the week is seen at 37,800/11,400 while resistance is seen at 38,950/11,770. Bank Nifty would have a range of 26,880-28,050. RIL looks very promising at these levels for a target of 1,350, along with Auto stocks like Bajaj Auto, Hero and TVS.

BUY M&M
CMP: Rs 973.70
TARGET: Rs 1,060
STOP LOSS: Rs 930
The stock has made a higher bottom formation pattern in the daily chart at around 915 levels and has given a positive bullish candle to signify tremendous strength and has got potential to rise further in the coming days. The RSI also has given a trend reversal with a steep rise and has signaled a buy. With good volume participation witnessed, we recommend a buy in this stock for an upside target of 1,060 keeping a stop loss of 930.

Top trading ideas by Prabhudas Lilladher: Buy Axis Bank, Bajaj Finance

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

NIFTY VIEW
Nifty continues to slide but as of now has taken support at 34WMA with RSI now at 54 levels implying further corrective move. The support for the day is seen at 37,920/11,450 while resistance is seen at 38,380/11,580. Bank Nifty would have a range of 27,180-27,670. Most of the frontline stocks from FMCG, Metals etc, except for Tech stocks witnessed corrective move. RIL too has held the market along with Axis Bank. Pharma sector needs to stabilize for the next round of momentum. Overall we maintain a cautious view.

BUY AXIS BANK
CMP: Rs 641.80
TARGET: Rs 690
STOP LOSS: Rs 610
The stock has indicated almost a higher bottom formation pattern in the daily chart taking support at around 620 levels and looks promising for an upside move in the coming days. The stock has indicated a positive candle to signify strength and has potential to carry on the momentum still further upside. With good volume participation witnessed, we recommend a buy in this stock for an upside target of 690 keeping a stop loss of 610.

BUY BAJAJ FINANCE
CMP: Rs 2,746.30
TARGET: Rs 3,000
STOP LOSS: Rs 2,620
The stock has given a decent correction from the peak of 2995 levels to show signs of bottoming out at around 2680 levels and has given a good revival to signify strength and can carry on the momentum with positive bias in the coming days. The chart looks attractive and with good volume activity witnessed, we recommend a buy in this stock for an upside target of 3000 keeping a stop loss of 2620.

Support for Nifty seen at 11,460, resistance at 11,840: Prabhudas Lilladher

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

NIFTY VIEW
Market continues to show sideways movement with selective stocks in rotation holding the Nifty level. With rupee continuing to show weakness, has given an impetus to Pharma and IT stocks. The support for the week is seen at 37,950/11,460 while resistance is seen at 39,150/11,840. Bank nifty would have a range of 27,370-28,580. Infra sector has now set into momentum with Larsen looks promising from here.

BUY LARSEN TOUBRO
CMP: Rs 1,369.55
TARGET: Rs 1,480
STOP LOSS: Rs 1,310
The stock has been consolidating near 1350 levels for quite some time and currently has given a breakout above that range and looks promising for further upside in the coming days. The trend has been positive and with the RSI on the rise, a positive bias has been maintained. With good consistent volume activity witnessed, we recommend a buy in this stock for an upside target of 1480 keeping a stop loss of 1310.

BUY MGL
CMP: Rs 865.75
TARGET: Rs 950
STOP LOSS: Rs 820
The stock has witnessed a decent correction from the peak of 985 to consolidate and bottom out at around 830 levels and currently has moved past the significant 50 DMA moving average to signify strength. The chart looks very attractive and with the RSI indicating a trend reversal from the oversold zone to signal a buy and has maintained a positive bias. The volume participation has been decent and hence we recommend a buy in this stock for an upside target of 950 keeping a stop loss of 820.

Buy Maruti for a target of Rs 9,900, SL of Rs 9,000: Prabhudas Lilladher

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

NIFTY VIEW

Nifty made a record high but the sentiment was somewhat shaken with BankNifty witnessing heavy profit booking and failing to breach the previous peak of 28,363 levels. Nifty has indicated a “Hanging Man” pattern in the daily chart and the chances of a correction in the indices cannot be ruled out. However, the support for the day is seen at 38,100/11,520 while resistance is seen at 38,520/11,630. Bank Nifty would have a range of 27,770-28,220.

BUY GODREJ INDUSTRIES
CMP: Rs 624.70
TARGET: Rs 675
STOP LOSS: Rs 600

The stock has formed a series of higher bottom formation pattern in the daily chart and this time too has taken support around 590 levels near the significant 200 DMA and has given a revival to move past the 50 DMA moving average to signify strength and has potential to rise further in the coming days. The RSI has recently indicated a trend reversal to signal a buy and with decent volume participation witnessed, we recommend a buy in this stock for an upside target of 675 keeping a stop loss of 600.

Nifty outlook and top trading ideas by Prabhudas Lilladher for today

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

NIFTY VIEW
The market is likely to consolidate or maybe oscillate in a narrow range as the ADX on the daily chart has stopped its up move which implies less momentum in days to come. The support for the day is seen at 38,050/11,500 while resistance is seen at 38480/11630.

BUY CAN FIN HOMES
CMP: Rs 339.60
TARGET: Rs 380
STOP LOSS: Rs 315
The stock has witnessed a decent correction from the peak of 557 to bottom out recently at around 308 levels and has indicated a good bounce back with a positive candle pattern now to move past the significant 50 DMA moving average and so as to signify strength and potential to rise further in the coming days and with RSI indicating a trend reversal from the oversold zone has also signaled a buy to maintain a positive bias.

BUY KAJARIA CERAMICS
CMP: Rs 458.15
TARGET: Rs 530
STOP LOSS: Rs 420
The stock has witnessed a great erosion in recent times from the peak of 765 and now has indicated a bottoming out pattern at around 406 levels. Currently, a positive bullish candle pattern indicates strength and has got the potential to rise further in the coming days to scale to further new heights. 

Nifty outlook and top trading ideas by Prabhudas Lilladher for today

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

NIFTY VIEW
Nifty is showing signs of exhaustion now with individually all sectors show no clarity to propel market to surge higher, IT could get in new round of momentum, and support for the week is seen at 37160/11200 while resistance is seen at 38350/11580. Bank Nifty would have a range of 27420-28620. The daily trend in Nifty has turned down after 2 days, while Bank Nifty still continues to be in positive.

BUY AUROBINDO PHARMA
CMP: Rs 610.90
TARGET: Rs 655
STOP LOSS: Rs 580
The stock has made a series of higher bottom formation pattern in the daily chart taking support at the significant 50 DMA moving average which lies near 598 levels. The chart looks attractive for further rise in the coming days and with increasing volume participation witnessed, a positive bias has been maintained and we recommend a buy in this stock for an upside target of 655 keeping a stop loss of 580.

BUY MAHINDRA & MAHINDRA
CMP: Rs 945.95
TARGET: Rs 1,030
STOP LOSS: Rs 910
The stock has been consolidating for quite some time at around 910 – 925 levels gaining strength and currently has produced a positive candle pattern in the daily chart to signify a positive bias and has potential to rise further in the coming days. The RSI also has indicated a trend reversal to signal a buy and with decent consistent volume participation witnessed, we recommend a buy in this stock for an upside target of 1030 keeping a stop loss of 910.

Support for Nifty seen at 11,320, resistance at 11,440: Prabhudas Lilladher

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

NIFTY VIEW
Nifty continues to consolidate since the past 3 days with a close nearly at the same level. The support for the day lies at 37,440/11,320 while resistance is seen at 37,830/11,440. Bank Nifty would have a range of 27,620-28,100.

BUY RECL
CMP: Rs 117.70
TARGET: Rs 136
STOP LOSS: Rs 106
The stock has made a good base at around 90 levels after a decent correction and has given a good bounce back and currently, the stock has been consolidating for quite some time at around 115 levels and gaining strength for a further rally.

BUY CHOLA FINANCE
CMP: Rs 1,438
TARGET: Rs 1,560
STOP LOSS: Rs 1,400
The stock has been moving around the significant 200 DMA moving average taking a good support and we anticipate a further upward movement in the coming days with RSI also consolidating around the oversold zone and gaining the potential to make a bounce in the upward direction. 

Top trading ideas by Prabhudas Lilladher: Buy Kajaria Ceramics, Escorts

NIFTY VIEW
Nifty has moved into a new zone from the range-bound levels but is finding difficulty to move past the 11150 levels while Bank Nifty has been consolidating for quite some time within a narrow range. With the expiry of F&O segment and release of stocks earning report, we anticipate some volatility in the market. However, the support for the day is seen at 11070 while resistance is seen at 11200.

BUY KAJARIA CERAMICS
CMP: Rs 444.30
TARGET: Rs 500
STOP LOSS: Rs 415
The stock has witnessed a decent erosion from the peak of 580 to signs of bottoming out at around 414 levels and has indicated a good bounce with rising volume to signify strength. The RSI has indicated a trend reversal from the oversold zone and has signaled a buy. The chart looks attractive for an entry at this levels with minimum risk reward ratio. With good volume activity seen, we recommend a buy in this stock for an upside target of 500 maintaining a stop loss of 415 levels.

BUY ESCORTS
CMP: Rs 886.30
TARGET: Rs 965
STOP LOSS: Rs 830
The stock has made a double bottom formation pattern in the daily chart at around 825 levels making a good base and has indicated a good bounce to signify strength and potential to rise further and give a breakout above 920 levels to witness fresh upward move. Also the stock has moved past the significant 34WMA moving average making the bias positive and with good volume participation witnessed, we recommend a buy in this stock for an upside target of 965 keeping a stop loss of 830.

Nifty outlook and top trading ideas from Prabhudas Lilladher for today

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

NIFTY VIEW
Nifty has been moving a very range bound zone between the 10920 and 11070 levels while Bank Nifty also has been moving between 26650 and 27150 levels. A fresh development can only trigger a breach on either side of the indices. However, the support for the week is seen at 10820 while resistance is seen at 11160. Pharma sector looks attractive and is in a positive bias with stocks like Sun Pharma, Cipla and Auro Pharma looks promising for further upside.
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BUY INDUSINDBANK 
CMP: Rs 1,902.55
TARGET: Rs 2,000
STOP LOSS: Rs 1,860
The stock has given a correction from the peak of 1990 to show signs of bottoming out at around 1880 levels and has currently indicated a positive candle pattern in the daily chart to signify strength for further upside movement in the coming days. The RSI also has shown a trend reversal from the oversold zone and has signaled a buy in this stock. With consistent decent volume participation witnessed, we recommend a buy in this stock for an upside target of 2000 keeping a stop loss of 1860.
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BUY EXIDE INDS
CMP: Rs 265.85
TARGET: Rs 295
STOP LOSS: Rs 250
The stock has formed a more or less higher bottom formation pattern in the daily chart and has currently indicated a positive candle to signify a positive bias and potential to rise further to scale till 290-295 levels. The stock has maintained above the significant 34 WMA and 50 DMA moving averages to signify strength and also the RSI has indicated a trend reversal to signal a buy in this stock. With good volume participation witnessed, we recommend a buy in this stock for an upside target of 295 keeping a stop loss of 250.