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Technical calls from HDFC Securities: Buy SBI, Federal Bank

Nifty outlook and top trading ideas by Vinay Rajani - Technical Analyst, HDFC Securities.

Markets, Buy, Sell, Stocks
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Vinay Rajani Mumbai
Nifty View

Nifty on Tuesday closed at the highest level since June 13, 2019, surpassing the resistance of 11,911 during intraday trade. The index is placed above all important moving average parameters, indicating bullish trend on all time frames. The immediate resistance for Nifty is seen at 12,000, followed by 12,430 while the support has now shifted to 11,775.

BUY SBIN (Rs 365)

Target: Rs 400 

Stop loss: Rs 340

The stock has broken out from the last 10 quarters price consolidation. Recently, it has registered new all-time high. It has surpassed the crucial double top resistance of Rs 351.50 and has been sustaining above

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