Top trading ideas by HDFC Securities: Sell Eicher Motors, Pidilite

Nifty outlook and top technical calls by Vinay Rajani, technical analyst at HDFC Securities:

Nifty View
Nifty is in continuation of a downtrend. Near-term support for Nifty is placed at 10,200, below which further panic selling may emerge. Far support for Nifty is placed at 9,875. Resistances for the Nifty is seen at 10,410, above which short-term trend would reverse from bearish to bullish.

SELL EICHER MOTORS
CMP: Rs 21,086
Target: Rs 19,500
Stop loss: Rs 22,300
The stock price has been forming lower tops and lower bottoms on the short-term charts. The stock has been trading in a narrow range for last 4 trading session. The stock is likely to resume its downtrend by breaking down below the short-term consolidation. We recommend selling Eicher Motors for the target of 19,500, keeping SL at 22,300.

SELL PIDILITE
CMP: Rs 914
Target: Rs 860
Stop loss: Rs 950
The stock price has broken down below long-term upward sloping trend line on the weekly chart. The stock price has reached below its 200 DMA. Short term moving averages are trading below long-term moving averages, indicating a bearish trend. Lower tops and lower bottoms have started forming. We recommend selling Pidilite Industires for the target of 860, keeping SL at 950.

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.

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.

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 finding it difficult to sustain at these levels now with Tech giving in to selling along with Auto too not supporting, the only sector which is marginally on positive is the Metal sector. The support for the day is seen at 10,800 while resistance is seen at 10,930.

BUY IOC
CMP: Rs 157.50
TARGET: Rs 170
STOP LOSS: Rs 145
The stock has been in consolidation for quite some time at around 150 levels and currently has indicated a bullish candle pattern in the daily chart to signify strength and potential to rise further from here on to scale up to 165-170 levels. The RSI has been in a positive trending mode to signify strength in the stock for still furthermore rise in the coming days. With good volume participation witnessed we recommend a buy in this stock for an upside target of 170 keeping a stop loss of 145.

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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 recovered strongly from the low of 10821 but still the sentiment and bias remains cautious. The levels around 10820 - 10840 remains the support zone for Nifty while BankNifty shall have the support near around 24680-24700 levels. However, the support for the day would be seen at 36280/10940 while the resistance would be at 36750/11070 levels.BankNifty would have the range of 25100-25620 levels.

BUY ICICI BANK
CMP: Rs 314
TARGET: Rs 330-335
STOP LOSS: Rs 299
The stock has made a good correction from around 346.80 price to consolidate near the 300 levels which is forming a good support level. The stock has made a good recovery with huge volume participation and also the RSI indicator has reversed its trend to give a buy signal. We recommend this stock for an upside target of 330 keeping a stop loss of 299.

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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.

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 has once again taken support around the 10850 level as of now and the chances of breaking this support cannot be ruled out with the sentiment and bias being weak. BankNifty too has maintained the previous support zone of 24900 levels and some select stocks like HDFC Bank, Axis Bank and Kotak Bank look promising. However, the support for the week is seen at 35620/10720 while the resistance is seen at 37000/11180 levels. BankNifty would have a range of 24460-25900.

BUY HDFC BANK
CMP: Rs 2,006.05
TARGET: Rs 2,150
STOP LOSS: Rs 1,950
The stock has witnessed a decent correction from the peak of 2211 levels and has now bottomed out at around 1915 and thereby given a good revival signifying strength and has potential to rise further in the coming days. The RSI has indicated a trend reversal from the oversold zone and has signalled a buy. With consistent volume participation witnessed and the chart looking attractive we recommend a buy in this stock for an upside target of 2150 keeping a stop loss of 1950.

BUY CYIENT
CMP: Rs 745.20
TARGET: Rs 825
STOP LOSS: Rs 710
The stock has shown a higher bottom formation like pattern in the daily chart and has maintained above the significant 200 DMA moving average indicating strength and maintained a positive bias. The RSI also after the positive trend reversal is on the rise and has potential for the stock to rise further in the coming days. With good volume activity witnessed, we recommend a buy in this stock for an upside target of 825 keeping a stop loss of 710.

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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 has held on to the support of 10900 levels & Bank Nifty at 24600 with Rupee & Crude remaining where it is. Volatility would continue with the expiry of September series. The support for the day is seen at 36270/10080 while resistance is seen at 36800/11120. Bank Nifty would have a range of 25100-25650. Among the metal sector, Vedanta and Hindalco look positive while Cement sector has also got into momentum-ACC, Ambuja, Shree cement etc. look positive.


BUY GUJARAT ALKALIES & CHEMICALS
CMP: Rs 620.55
TARGET: Rs 680
STOP LOSS: Rs 580

The stock has been in a consolidation phase for quite some time at around 550-565 levels and currently has indicated a breakout with a positive bullish candle pattern in the daily chart and we anticipate an upward rise with strength and potential in the coming days. The RSI also has indicated a positive bias with a trend reversal and has signalled a buy. With good volume participation witnessed, we recommend a buy in this stock for an upside target of 680 keeping a stop loss of 580.

BUY AMBUJA CEMENTS
CMP: Rs 226.10
TARGET: Rs 250
STOP LOSS: Rs 215
The stock has been consolidating for some time gathering strength and currently has moved past the 50 DMA moving average and has maintained a positive bias and we anticipate an upward rise in the coming days. The RSI looks positive and with the chart looking attractive, we recommend a buy in this stock for an upside target of 250 keeping a stop loss of 215.

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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 after correcting from 11750 levels to a low of 10860 levels has taken support and is attempting to bounce from here on. Bank Nifty too has given a substantial corrective move now with support taken at 24670 levels and now likely to bounce up to 25500-25800 levels. The support for the day is seen at 36400/11000 while resistance is seen at 36920/11140. Bank Nifty would have a range of 25060-25620. HDFC twin along with Kotak & IndusInd and among Auto sector Maruti looks very promising for a bounce-back rally.

BUY MARUTI
CMP: Rs 7,999.45
TARGET: Rs 8,800
STOP LOSS: Rs 7,680
The stock has given a decent correction from the peak of 9470 to bottom out at around 7590 levels and has given a good bounce to signify strength and potential to rise further in the coming days. The RSI has touched the highly oversold zone and has indicated a trend reversal to signal a buy with a positive bias. With the chart looking attractive and good volume participation witnessed, we recommend a buy in this stock for an upside target of 8800 keeping a stop loss of 7680.

BUY HDFC BANK
CMP: Rs 1,952.40
TARGET: Rs 2,100
STOP LOSS: Rs 1,900
The stock has witnessed a good correction in the last two months from the peak of 2210 to bottom out at around 1910 levels and has given a good bounce to signify strength and potential to rise further in the coming days. The RSI has touched the highly oversold zone and has indicated a trend reversal to signal a buy with a positive bias. With the chart looking attractive and good volume participation witnessed, we recommend a buy in this stock for an upside target of 2100 keeping a stop loss of 1900.

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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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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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Nifty outlook and top trading ideas by Prabhudas Lilladher

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

NIFTY VIEW
Nifty after breaking the previous support of 11,250 along with Bank Nifty too and weekly trend being down, we continue to have a corrective bias. The support for the day is seen at 36,860/11,160 while resistance is seen at 37,350/11,300. Bank Nifty would have a range of 26,000-26,500. Market is witnessing selling in almost all sectors; hence we need to wait for stability. RSI, too in the daily chart is at 41 levels, which cannot rule out scope for further correction.

BUY NILKAMAL
CMP: Rs 1,828.90
TARGET: Rs 1,970
STOP LOSS: Rs 1,760
The stock has formed a higher bottom formation pattern at around Rs 1,755 levels which is also where the 200 DMA lies and has indicated a positive revival. The stock has also maintained above the significant 50DMA moving average and with the RSI also showing a trend reversal, a positive bias is maintained. With good volume participation witnessed, we recommend a buy in this stock for an upside target of Rs 1,970 keeping a stop loss of Rs 1,760.

BUY COAL INDIA
CMP: Rs 280.65
TARGET: Rs 302
STOP LOSS: Rs 270
The stock has formed a higher bottom formation and has moved past the significant 50DMA moving average to signify strength and has potential to rise further in the coming days. The RSI also has indicated a trend reversal to signal a buy and with a positive bias maintained the stock is almost on the verge of a breakout above the 200DMA which lies at Rs 281 levels. With good volume participation witnessed, we recommend a buy in this stock for an upside target of Rs 302 keeping a stop loss of Rs 270.

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Technical calls by Religare Broking: Buy Exide Industries, GAIL

Top trading ideas by Religare Broking:

Exide Industries Limiteda
Rec: BUY
Last Close: 268.85
Initiation range: 267-270
Target: 284
Stop loss: 263
After making a record high at 304.70, EXIDEIND has been witnessing profit taking for past almost one month. It is currently consolidating around the support zone of multiple moving averages on different time frames and likely to see swift rebound in near future. Traders shouldn’t miss this chance and accumulate fresh longs in the given range.

GAIL (India) Limited
Rec: BUY
Last Close: 374.80
Initiation range: 369-373
Target: 394
Stop loss: 362
GAIL has retraced marginally of late, after making a record high in August 2018 and found support around the short-term moving averages (50/100) EMA on the daily chart. We believe it’s an excellent buying opportunity, considering the overall chart structure and positioning of confirmations indicators. Traders can accumulate within the given range.

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.

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
Indices continue to make lower top formation and also with the weekly trend turned down in Nifty, Sensex and Bank Nifty, the bias remains corrective. The support for the day is seen at 37400/11300 while resistance is seen at 37900/11440. Bank Nifty would have a range of 26600-27000. IT and Metals show strength while FMCG shows corrective bias. Pharma sector though positive has witnessed some profit booking.

BUY NCC
CMP: Rs 91.60
TARGET: Rs 103
STOP LOSS: Rs 86
The stock has witnessed a small correction and has indicated a good revival with a positive bullish candle pattern to form an attractive chart and is on the verge of giving a breakout above the significant 50DMA moving average which lies at 94 levels. The RSI has indicated a trend reversal from the oversold zone and has signaled a buy with a positive bias. With good volume participation witnessed, we recommend a buy in this stock for an upside target of 103 keeping a stop loss of 86.

BUY CHENNAI PETRO
CMP: Rs 303.15
TARGET: Rs 335
STOP LOSS: Rs 284
The stock has recovered convincingly from the bottom made at around 270 levels and has currently moved past the significant 50DMA moving average which lies at 301 and has maintained a positive bias with the RSI indicating a steep rise to signify further strength and potential to move upward in the coming days. With the indicators looking favourable and decent volume participation in recent times, we recommend a buy in this stock for an upside target of 335 keeping a stop loss of 284.

Buy Voltas for a target of Rs 675, stop loss of Rs 575: Prabhudas Lilladher

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

NIFTY VIEW
Nifty and Bank Nifty gets its weekly trend down, so for now this would be considered a bounce back rally. The support for the week is seen at 37,400/11,300 while resistance is seen at 38,620/11,680. Bank Nifty would have a range of 26,480-27,700. Nifty still has a lower top formation unless it crosses 11,580 decisively, further up move can be expected. Cement stocks have shown some momentum. NBFC too after correcting has given a bounce.

BUY ASIAN PAINTS
CMP: Rs 1,333.90
TARGET: Rs 1,440
STOP LOSS: Rs 1,280
The stock has made a higher bottom formation like pattern in the daily chart and looks very attractive with a decent bounce back to signify strength and potential to rise still further upward in the coming days. The RSI has also hit the oversold zone and has shown a trend reversal to maintain a positive bias. With good volume participation witnessed, we recommend a buy in this stock for an upside target of 1440 keeping a stop loss of 1280.

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.

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 on daily chart forms a bearish engulfing candle and also a trend line break brings in resistance at 11,750 levels for now, also RSI being at 60 still brings in hope for a bounce. Else market would witness a further corrective move to the level of 11,500-11,400 levels. The support for the day is seen at 38,080/11,520 while resistance at 38,530/11,640. Bank Nifty would have a range of 27,580-28,040. Most of the sectors have shown a good run up, so now some profit booking cannot be ruled out.

BUY HPCL
CMP: Rs 257.50
TARGET: Rs 290
STOP LOSS: Rs 243
The stock has made a double bottom formation pattern in the daily chart at 250 levels and currently, a revival indication is witnessed and we anticipate a further rally from here on to scale till 285 -290 levels in the coming days. The RSI also has indicated a trend reversal from the oversold zone and has signaled a buy. With the chart looking attractive and with good volume participation witnessed, we recommend a buy in this stock for an upside target of 290 keeping a stop loss of 243.

BUY TATA MOTORS DVR
CMP: Rs 144.15
TARGET: Rs 162
STOP LOSS: Rs 134
The stock has been in consolidation for quite some time at around 140 levels with a good support at around 135- 140 levels and currently has indicated a bounce to signify strength and potential to carry on the momentum still further and more upward movement can be anticipated in the coming days. Also, the RSI has signaled a buy and has maintained a positive bias and with good volume activity witnessed, we recommend a buy in this stock for an upside target of 162 keeping a stop loss of 134.

Nifty outlook and top trading ideas by Devang Shah for today

NIFTY
CLOSE- 11680.50 (31.08.2018)
The market closed the 6th consecutive week in positive territory. It has extended further & achieved my revised short-term targets levels near recent high as expected last week. It made a high of 11,760.20 levels on Nifty & 38,989.65 levels on Sensex during the week. It looks like the first possibility of some consolidation in the market in the range of 11850- 11,400 levels on nifty in short-term before further trend resumes towards higher levels targets. Sustain above 11,850 levels will lead to a further extension of the rally towards 12,000 levels on nifty in short term. Any kind of short-term consolidation or correction is stock specific buying opportunity till short-term reverses.Stock Picks:

KOTAK BANK - BUY
CLOSE – Rs 1,284.75
TARGET – Rs 1,305-1325
KOTAK BANK closed the weekly in positive territory. It looks like the end of short-term correction. Its daily momentum indicators are in BUY. It is trading above 20DMA. One can BUY with a stop loss of Rs-1238 for the target of Rs 1305-1325 levels in short-term.

JSPL - BUY
CLOSE – Rs 220.70
TARGET – Rs 230-240
JSPL closed the weekly in positive territory. It looks like the end of short-term correction. It managed to hold 20 DMA. Risk Reward is favourable to BUY at current levels. Its daily momentum indicators are in BUY. One can BUY with a stop loss of Rs-203 for the target of Rs-230-240 levels in short-term.

DCB BANK - BUY
CLOSE – Rs 178.60
TARGET – Rs 186-196
DCB BANK closed the weekly in positive territory. It looks like the end of short-term correction. Its daily momentum indicators are in BUY. It closed above 20DMA. One can buy with a stop loss of Rs-169 for the target of Rs-186-196 levels in short-term.

RAYMOND - BUY
CLOSE – Rs 839
TARGET – Rs 875-925
RAYMOND closed the weekly in positive territory. It looks like the end of short-term correction. Its daily momentum indicators are in BUY. It is trading above 20DMA. One can buy with a stop loss of Rs-802 for the target of Rs 875-925 levels in short-term.

Derivatives strategy on Tata Steel by HDFC Securities

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Derivatives strategy on Tata Steel by Nandish Shah, Technical & Derivatives Analyst at HDFC Securities:

Buy Tata Steel September 620 CALL @ Rs 18.8
Stop loss of Rs 14
Target Rs 28
Rationale: We have seen Long positions being rolled over to the September series in Tata Steel with Open Interest rising by 5% with Price moving up by 2%.

We have seen healthy rollover of 94% as against last three series average rollover of 76%

The stock price is trading above its important short-term moving averages Indicating a bullish trend for the short term
Momentum Indicators and Oscillators like RSI and MACD are also Indicating strength in the stock for the short to medium term.