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Market outlook and top two trading ideas by Prabhudas Lilladher

Nifty outlook and few trading ideas by Vaishali Parekh, research analyst - technical research at Prabhudas Lilladher

Stock markets
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Stock markets

Vaishali Parekh Mumbai
NIFTY VIEW

Nifty manages to hold its level, while individual stocks continue to get beaten with no respite. Auto, Metals, NBFCs and few banks have gotten into nosedive fall, along with Auto and selling across the board. The support for the day is seen at 38,820/11,620 while resistance is seen at 39,400/11,750. Bank Nifty would have a range of 30,050-30,680. Yes Bank and Indusind Bnk continue to show weakness with BankNifty having its daily trend down since 11 days.

Stock Recommendation

BUY  VOLTAS 

CMP : Rs 609.60     

TARGET : Rs 646       

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