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Nifty view and trading ideas by HDFC Securities: Buy Britannia, Finolex Ind

Here are the technical recommendations by Vinay Rajani, Technical & Derivatives Analyst, HDFC Securities.

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Technical call by HDFC Securities

Vinay Rajani Mumbai

2 min read Last Updated : Sep 18 2019 | 6:41 AM IST

Nifty View

Nifty plunged more than 1.5 per cent on Tuesday to close below 10,900. Any level below 10,746 would confirm lower top and lower bottom formation on the daily charts. So, for bulls, it would be very important that Nifty maintains its level above 10,746. Resistance is shifted down to 11,100 and unless that is taken out, market trend would remain uncertain.

Stock recommendation:

BUY BRITANNIA (Rs 2,692)

Target: Rs 2600

Stop-loss: Rs 2800

Stock has been consolidating in 100 Rupees range for last 12 sessions with lower volumes. Before this consolidation, it surged nicely with spike in volumes.

Topics : Finolex Industries Britannia Industries HDFC Securities Stock Call Stock calls Stocks to buy today

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