Top trading calls by Anand Rathi: Buy Colgate Palmolive, Jubilant FoodWorks

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

SELL NIFTY 

TARGET: 11,250 

STOP LOSS: 11,430

Nifty has reversed its short-term trend from up to down with a sell crossover in its momentum indicator MACD. The index seems to have completed wave iii up and wave iv correction seems to have started. The minimum target comes at 11,250 which is the breakout retest level and the resistance is pegged at 11,430 levels.

SELL Colgate Palmolive (India) 

TARGET: Rs 1,190 

STOP LOSS: Rs 1,254

The stock has provided a sell crossover in its daily as well as weekly momentum indicators. It has also broken the sideways channel on the lower side which is a bearish sign; hence