Nifty outlook and top trading ideas by Jay Anand Thakkar of Anand Rathi

NIFTY: Buy | TGT eleven,850 SL: eleven,650

The Nifty closed in the positive territory in the last trading session and has fashioned a symmetrical triangular pattern on the hourly charts. The Index seems to have done wave B of the bounce and wave C up on the hourly charts is expected. So, just one can acquire Nifty for the focus on of eleven,850 with a cease reduction of eleven,650.

ESCORTS: Buy | TGT: Rs 920 | SL: Rs 809

The stock has furnished a breakout from the falling channel, and, thereafter, has been forming larger tops and larger bottoms with a acquire crossover in its momentum indicators at all levels.

BAJFINANCE: Buy | TGT: Rs 4550 | SL: Rs 4250

The stock has furnished a breakout from the ascending triangular pattern with a very clear acquire crossover in its daily as well as weekly momentum indicators. The stock seems to have done the retest of the ascending triangular pattern.

MARUTI: Buy | TGT: Rs seven,five hundred | SL: Rs six,750

The stock has taken a assist at the reduced conclude of the falling channel and now is expected to reverse to the upper conclude of the variety. The shorter-term focus on arrives to Rs seven,five hundred whilst the assist is pegged at Rs six,750.


Disclaimer: Writer might or might not have positions in the above outlined stocks