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 witnessed a short correction after retesting the peak level of 11,760 and currently, a higher bottom formation pattern is indicated with support taken at 11,560, to signify further upside move in the coming days. A similar view exists for Bank Nifty also, which has 29,600 as an important support level. However, the support for the week would be seen at 38,280/11,480 levels for Sensex and Nifty, respectively, while the resistance would be at 39,580/11,900 levels. Bank Nifty would have a range of 29,500-30,800.

BUY EXIDE INDUSTRIES  

CMP: Rs 218.75      

TARGET: Rs 240     

STOP LOSS: Rs 208 

The stock