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 got its daily trend down after 14 days, while weekly trend continues to be positive unless it closes below 10432. The support for the day is seen at 10420 while resistance is seen at 10520.

BUY HINDUSTAN ZINC     

CMP: Rs 311.45      

TARGET: Rs 338     

STOP LOSS: Rs 298

The stock has made a higher bottom formation pattern at Rs 281 in the daily chart and it was also where the 200-DMA was lying and so a strong support has been maintained. The stock has made a good pullback and gradually is on the rise with positive bias and we anticipate a similar run with potential and strength in the coming days. With good activity seen in recent times, we recommend a buy in this stock for an upside target of Rs 338 keeping a stop loss of Rs 298.

BUY NATIONAL ALUMINIUM     

CMP: Rs 86.35      

TARGET: Rs 95    

STOP LOSS: Rs 79

The stock has made a higher bottom formation pattern at Rs 75 in the daily chart and also the 200-DMA lies around that level of Rs 74 where a strong support has been maintained. The stock has recovered strongly with potential and strength and now with a positive bullish candle pattern shows further possibility of a rise with positive bias in the coming days. With good activity seen in recent times, we recommend a buy in this stock for an upside target of Rs 95 keeping a stop loss of Rs 79.

BUY DISH TV     

CMP: Rs 81.55     

TARGET: Rs 90     

STOP LOSS: Rs 77

The stock has been in a consolidation phase for quite some time and now has indicated a positive candle pattern in the daily chart to signify positive bias with potential and strength to rise further upwards. The stock has maintained above the significant moving average of 34-WMA, and we anticipate a good run in the coming days. With decent volume participation witnessed, we recommend a buy in this stock for an upside target of Rs 90 keeping a stop loss of Rs 77.

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