Nifty outlook and top trading calls for today's trade: Prabhudas Lilladher

Few trading ideas by Vaishali Parekh, Research Analyst - Technical Research at Prabhudas Lilladher:

NIFTY VIEW:

Nifty has given sideways move; a confirmation comes only with a cross of 10,350-10,380 levels for a strong uptrend. The support for the day is seen at 10,250, while resistance is seen at 10,340.

BUY BPCL     

CMP: Rs 504.45        

TARGET: Rs 545       

STOP LOSS: Rs 488

The stock has maintained a good upward trending movement and now again a higher bottom formation has been made indicating a further decent rise in the coming days. The indicators like RSI has shown a trend reversal thus signaling a buy and with the stock maintaining above the 200-DMA, the bias is maintained positive. With good volume activity seen, we recommend a buy in this stock for an upside target of Rs 545 keeping a stop loss of Rs 488.

BUY INDIABULLS REAL ESTATE    

CMP: Rs 233.05       

TARGET: Rs 255      

STOP LOSS: Rs 220

The stock has been maintaining a good support at around Rs 203 and it has given a bounce again from that level. The bullish candle indicates a positive bias with potential and strength to rise further in the coming days and also it has given a breakout above the 200-DMA. With the RSI also indicating a trend reversal, the stock looks promising and we recommend a buy in this stock for an upside target of Rs 255 keeping a stop loss of Rs 220.

BUY GAIL    

CMP: Rs 460.35      

TARGET: Rs 495      

STOP LOSS: Rs 443

The stock has made a higher-bottom formation in the daily chart and has maintained the rising trend with positive bias. The RSI has indicated a trend reversal and has signaled a buy in this stock making it a very attractive stock. With decent volume participation witnessed, we recommend a buy in this stock for an upside target of Rs 495 keeping a stop loss of Rs 443.

Disclaimer: The analyst may have positions in any or all the stocks mentioned above.