Nifty outlook and top trading ideas by Jay Anand Thakkar of Anand Rathi

For Nifty, the immediate support on the lower side is pegged at 12,225; hence, till those levels are not broken, the trend is positive for the target of 12,340

NIFTY: BUY | TGT: 12,340 | SL: 12,225

The Nifty closed in the positive territory in the last trading session with a clear buy crossover in its momentum indicator MACD. The index has been forming higher tops and higher bottoms on the daily charts which indicate that the short term trend in the index is up. The immediate support on the lower side is pegged at 12,225; hence, till those levels are not broken, the trend is positive for the target of 12,340.

CYIENT: BUY | TGT: Rs 445 | SL: Rs 410

The stock has provided a breakout from the double bottom