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 is at a crucial juncture wherein, as of now, it has taken support near the trendline support of around 10,650 levels which if broken can retest the next major support zone which would be around 10,550-10,580 levels whereas on the upside only a breach above 10,980-11,000 can confirm a further upward movement. However, the support for the week is seen at 35,950/10,580 for Sensex and Nifty, respectively while resistance is seen at 37,350/11,040. Bank Nifty would have a weekly range of 26,200-27,600.

BUY MAHINDRA & MAHINDRA   

CMP: Rs 533.25      

TARGET: Rs 590      

STOP LOSS: Rs 505

The stock has