Nifty outlook & stock calls by Anand Rathi: Buy Nestle, Muthoot Finance

Momentum oscillator MACD has provided a fresh buy crossover on Nestle's daily chart

BUY NIFTY | TARGET: 10,900 | STOP LOSS: 10,580

The Nifty index is in a consolidation mode where it is taking the support of its 100-DEMA at around 10,600 levels. The momentum indicators and oscillators are very well in the buy mode on the hourly scale which hints that bulls are making a comeback and the current pullback is likely to extend further. The volatility index, IndiaVIX, is hovering near 25 levels which is giving comfort to the bulls. Thus, aggressive traders can initiate a long position with the strict stop loss of 10,580.

BUY NESTLEIND | TARGET: Rs 18,300 | STOP