Top trading calls by Anand Rathi: Buy Pidilite, United Spirits; sell IGL

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

NIFTY: SELL

TARGET: Rs 10,728

STOP-LOSS: Rs 10,980

Nifty closed in the negative territory in the last trading session and the Index continues to form lower tops and lower bottoms with a sell crossover in its momentum indicator MACD on the daily, weekly and monthly charts. The Index has an immediate resistance at 10,980 whereas support is found at 10,728, hence we continue to maintain our short-term bias negative.

PIDILITE: BUY

TARGET: 1,354

STOP-LOSS: Rs 1,237

The stock has started to form higher tops and bottoms with increase in volumes which is quite positive for the stock. It  seems