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.

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