Top trading calls by Anand Rathi: Buy Havells, NIIT Tech

Nifty outlook and top trading ideas by Jay Anand Thakkar, CMT -Assistant Vice President - Equity Research, Anand Rathi Research:

NIFTY: SELL 

TARGET PRICE: 10,400 

STOP LOSS: 10,550

Nifty closed in the negative territory in the last trading session and with that, it seems to have completed five waves rising structure. A minimum of 38.2% retracement of the same is expected, hence we recommend selling it as the hourly momentum indicator too has provided a sell crossover.

FRETAIL:  BUY 

TARGET PRICE: Rs 543

STOP LOSS: Rs 492

The stock has provided a breakout from the symmetrical triangular pattern with a buy crossover in its daily as well as weekly momentum indicator MACD.

HAVELLS: BUY 

TARGET PRICE: Rs 670 

STOP LOSS: Rs 643

The stock has formed a nice symmetrical triangular pattern on the daily charts in its wave 4. The stock has also provided a clear buy crossover in its daily momentum indicator MACD.

NIIT TECH:  BUY 

TARGET PRICE: Rs 1220 

STOP LOSS: Rs 1170

The stock seems to have completed a clear A-B-C correction the daily charts. The momentum indicator is also well in buy mode. The momentum indicator MACD is also well in buy mode, so we recommend buying this stock.

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