Top trading ideas by Prabhudas Lilladher: Buy Hindustan Unilever, IRB Infra

Nifty outlook and top trading ideas by Vaishali Parekh, research analyst - technical research at Prabhudas Lilladher.

NIFTY VIEW

Nifty has bounced back strongly from the base made near 10,585 gaining almost 8 per cent and currently at 11,630 levels, it is in an overbought zone from where the chances of a small correction or consolidation cannot be ruled out. Bank Nifty, too, which has gained a mammoth 14 per cent during the month is near 30450 levels and has got a similar view like Nifty and one need to be cautious. The bias is maintained positive, however, the support for the week would be seen at 37,980/11,400 levels for Sensex and Nifty while the resistance would be