#technical calls

Godrej Consumer has gotten energy with a nice improvement in the volume to show a positive inclination and suggest further quality and potential to rise further in the coming days

MARKET NEWS: Purchase DIVIS LAB | CMP: Rs 1,838.35 | TARGET: Rs 2,000 | STOP LOSS: Rs 1,780 

The stock has been in an inclining model, gradually and step by step rising to improve the inclination. Additionally, it has demonstrated a pattern inversion to infer quality and potential for additional upward development in the coming days. 

The graph design looks appealing and we recommend to purchase and amass this stock for an upside focus of Rs 2,000 keeping the stop misfortune close to Rs 1,780. 

Purchase GODREJ CONSUMER | CMP: Rs 697.40 | TARGET: Rs 760 | STOP LOSS: 

Rs 668 The stock has been in solidification for a long while, keeping up a solid help base close to 675 levels and as of now has gotten energy with a nice improvement in the volume cooperation to show a positive predisposition and infer further quality and potential to rise further in the coming days. 

The RSI has additionally gone up to improve the inclination and is on the ascent to connote quality. We propose to purchase and gather this stock for an upside focus of Rs 760 keeping the stop misfortune close to Rs 668.

Here is the week after week specialized view on Nifty and stock proposal by Prabhudas Lilladher.

MARKETS NEWS: NIFTY VIEW

Clever, which recuperated firmly from the 50-day moving normal (DMA) level of 11,090 levels has definitively crossed the 11,600-mark and has entered another zone for further upside focuses of 11,950-12,000 levels. Bank Nifty has failed to meet expectations when contrasted with the Nifty file however is still in a positive zone over the 200-DMA of 28,860 level. 

Purchase LARSEN TOUBRO

CMP: Rs 1,447.80

TARGET: Rs 1,580

STOP LOSS: Rs 1,390

The stock has shown a higher base development design on the everyday outline, taking help close the 200-DMA level of Rs 1,390 and has improved the inclination with a pullback to show quality and can possibly rise further upside in the coming days. The relative quality file (RSI) has been kept up positive and with not too bad volume interest saw, we suggest an upfront investment this stock for an upside focus of Rs 1,580 levels, keeping the stop misfortune at Rs 1,390.

Purchase HAVELLS

CMP: Rs 689.60

TARGET: Rs 740

STOP LOSS: Rs 660

The stock has taken help at the rising trendline at Rs 650 levels and has gotten force with positive inclination to suggest quality and envision further ascent in the stock. 

International News

Nifty View

Nifty has taken support on its 100-DMA (day-moving average) and managed to close above 11,550. Any close below 11,500 would resume the downtrend which could push Nifty towards 200-DMA level of 11,110. However, trend would be considered bearish unless Nifty closes above 11,800.

BUY BIOCON

CMP: Rs 245

Target: Rs 260

Stop-loss: Rs 235

The stock has partially filled the gap which was formed in the range of 225-241 registered in Dec 2017. This gap could act as a bullish reversal point. Oscillators have been forming positive divergence on the daily charts, indicating stock is getting accumulated on the dips.

Considering the technical evidences discussed above, we recommend buying the stock at CMP (current market price), for the target of Rs 260, keeping a stop loss at Rs 235 on closing basis.

BUY CESC

CMP: Rs 786

Target: Rs 825

top-loss: Rs 760

IndusInd Bank Limited

Rec: BUY

Last Close: Rs 1,607.90

Initiation range: Rs 1,600-1,610

Target: Rs 1,740

Stop loss: Rs 1,530

INDUSINDBK has witnessed decent profit taking from its record high and currently hovering around the support area of 100 EMA on the weekly chart. Considering its chart pattern and oversold positions, we expect marginal consolidation followed by strong rebound ahead. The rise in volume also indicates buying interest. We advise traders to use this phase and accumulate in the given range.

Sun Pharmaceutical Industries Limited

Rec: Buy

Last Close: Rs 609.75

Initiation range: Rs 605- Rs 610

Target: Rs 645

Stop loss: Rs 588

In line with other pharma majors, SUNPHARMA has also rebounded strongly of late, after retesting its crucial price support zone around 430 levels and witnessed breakout from a bullish reversal pattern. Currently, it has been consolidating near its support zone of short moving averages (50/100) EMA’s on the daily chart, offering an opportunity for fresh buying.

ACC Limited

Rec: Sell October Futures

Last Close: Rs 1,464.70

Initiation range: Rs 1,480- Rs 1,490

Target: Rs 1,410

Stop loss: Rs 1,520

Mostly cement counters are struggling at present and ACC is no different. It has posted a breakdown of late from its distorted bearish pattern and likely to witness a fresh fall in near future. The confirmation indicators are also in sync with the view. We advise traders using any uptick to initiate fresh short positions in the mentioned zone.

Bajaj Auto Limited

Rec: Sell October Futures

Last Close: Rs 2,550.10

Initiation range: Rs 2,600- Rs 2,620

Target: Rs 2,470

Stop loss: Rs 2,680

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

NIFTY VIEW

Nifty has managed to hold its weekly trend in positive above 11,583 while Bank Nifty has turned down its weekly trend after 8 weeks. The weightage amongst the Nifty 50 stocks is equally distributed between the positive & negative. The support for the week is seen at 37,800/11,400 while resistance is seen at 38,950/11,770. Bank Nifty would have a range of 26,880-28,050. RIL looks very promising at these levels for a target of 1,350, along with Auto stocks like Bajaj Auto, Hero and TVS.

BUY M&M

CMP: Rs 973.70

TARGET: Rs 1,060

STOP LOSS: Rs 930

Nifty outlook and top trading ideas by Sacchitanand Uttekar, DVP – Technical (Equity), Tradebulls Securities:

Nifty Outlook:

Nifty has been crawling throughout the current month but has managed to keeps its float about 11,500 & inched higher towards 11,800 marks. Out of last 15 trading sessions it has witnessed 11 sessions with narrow ranged action with 7 Doji formations throughout the course.

V-GUARD

Reco: Buy

CMP: Rs 221.90

Fresh breakout from a continuation pattern indicates the ongoing upmove to remain constant. Also a sustained move & a close above its immediate highest CE OI congestion of 220 could derail the option writers confidence & provide further stimulus for the upmove. Expect the move to extend towards 228; hence the same could be participated with a trading stop below 217.

TVS MOTORS

Reco: SELL

CMP: Rs 558

Nifty outlook and few trading ideas by Vaishali Parekh, Research Analyst - Technical Research at Prabhudas Lilladher

NIFTY VIEW

Indices though in overbought zone continue to be in all-time high levels along with Bank Nifty. There is a possibility of market witnessing a sideways move to a consolidation at these levels with 11200 as a strong support level. The support for the day is seen at 11320 while resistance is seen at 11440. If the benchmark index is to take a breather, we would see some movement in mid-cap stocks.

BUY GREENPLY INDUSTRIES

CMP: Rs 218.35

TARGET: Rs 248

STOP LOSS: Rs 203

NIFTY VIEW

Nifty has moved into a new zone from the range-bound levels but is finding difficulty to move past the 11150 levels while Bank Nifty has been consolidating for quite some time within a narrow range. With the expiry of F&O segment and release of stocks earning report, we anticipate some volatility in the market. However, the support for the day is seen at 11070 while resistance is seen at 11200.

BUY KAJARIA CERAMICS

CMP: Rs 444.30

TARGET: Rs 500

STOP LOSS: Rs 415

The stock has witnessed a decent erosion from the peak of 580 to signs of bottoming out at around 414 levels and has indicated a good bounce with rising volume to signify strength. The RSI has indicated a trend reversal from the oversold zone and has signaled a buy. The chart looks attractive for an entry at this levels with minimum risk reward ratio. With good volume activity seen, we recommend a buy in this stock for an upside target of 500 maintaining a stop loss of 415 levels.

BUY ESCORTS

CMP: Rs 886.30

TARGET: Rs 965

STOP LOSS: Rs 830