Nifty outlook and top trading ideas by Prabhudas Lilladher

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

NIFTY VIEW

Nifty has been finding resistance near the 11,730 levels since the past two days while Bank Nifty has been in consolidation for 3-4 days failing to cross the 30,500 levels decisively. The indices hovering around their peak levels are vulnerable to profit-booking; however, the support for the day would be seen at 38,750/11,650 levels for Sensex and Nifty, respectively, while the resistance would be at 39,340/11,770 levels. Bank Nifty would have a range of 30,000-30,660.

BUY TCS    

CMP: Rs 2,079.30        

TARGET: Rs 2,250       

STOP LOSS: Rs 2,000

The stock has indicated a clear breakout above the trendline