Top trading ideas by Anand Rathi Research: Buy HUL, Fortis Healthcare

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

NIFTY: SELL

TARGET: 11,296

STOP LOSS: 11,461

The Index closed in the negative territory in the last trading session and so the wave IV consolidation continues. The Index seems to have completed a third wave up and a retracement of the same seems to have started, hence we recommend selling Nifty for the target of 11296 with a stop loss of 11461.

HINDUSTAN UNILEVER: BUY

TARGET: Rs 1,790

STOP LOSS: Rs 1,715

The stock has formed a clear symmetrical triangular pattern on the daily charts and the momentum indicator MACD has also provided a buy crossover. So, we recommend buying this stock.

PERSISTENT SYSTEMS: BUY

TARGET: Rs 910

STOP LOSS: Rs 840

The stock has provided a clear ascending triangular pattern on the daily charts and the momentum indicators are also well into the buy mode, hence we recommend to buy for the target of 910 with a stop loss of 840.

FORTIS HEALTHCARE: BUY

TARGET: Rs 161

STOP LOSS: Rs 142

The stock has provided a breakout from the symmetrical triangular pattern on the daily charts with a clear buy crossover in its momentum indicators which is a positive sign in the short term, hence we recommend buying this stock.

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