Top stock picks by Anand Rathi:Buy Kansai Nerolac, Glenmark, United Spirits

Nifty outlook and top trading ideas by Jay Anand Thakkar, CMT - Assistant Vice President - Equity Research, Anand Rathi Shares and Stock Brokers.

NIFTY

BUY | TGT 11240 | SL: 10950

Nifty closed in the positive territory in the last trading session and the momentum indicator MACD has provided a buy crossover on the hourly charts with a positive divergence. The Index is likely to close in the positive territory for the week as well and with that it four week’s losing streak. The Index is likely to retrace 38.2 per cent of its previous fall and the immediate support is pegged at 10,950, so we recommend buying for the target of 11,240 with a stop loss of 10,950.

Stock recommendation:

KANSAI NEROLAC