 "Markets, Up, Down, BSE, NSE, Stocks")
Nifty outlook and few trading ideas by Vaishali Parekh, research analyst- technical research at Prabhudas Lilladher.
NIFTY VIEW
Nifty has broken a crucial support of 10585 which would imply a further downside to 10400 levels; also Nifty closing below 50DMA confirms the weakness. The support for the day is seen at 34670/10420 while resistance is seen at 35220/10550. Bank Nifty would have a range of 25800-26380. Once again it becomes a sell on rising with the level of 10750 as resistance. IT sector along with other sectors continue to show weakness.
BUY FORTIS HEALTHCARE
CMP: Rs 150.05
TARGET: Rs 160
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