Nifty may break below 9,685 ahead of F&O expiry: Prabhudas Lilladher
STOCK MARKET - Few trading ideas by Vaishali Parekh, Research Analyst - Technical Research at Prabhudas Lilladher: NIFTY VIEW Nifty succumbed to selling pressure after touching 9,900 and North Korean missile testing further triggered the intensity of the fall. The level of 9,685 on the downside is at risk and a breach of that level can be anticipated before
the F&O expiry. However, the support for the day is seen at 9,750 while resistance is seen at 9,840. BUY RBL BANK CMP: Rs 531.55 TARGET: Rs 565 STOP LOSS: Rs 510 The stock after making a bottom at around Rs 475 has recovered significantly and thereafter witnessed a consolidation phase for some time. It has produced a positive bullish candle indicating strength and potential to rise further upward. The RSI indicator has indicated a trend reversal signaling a buy supported by tremendous volume participation and hence we recommend a buy in this stock for an upside target of Rs 565 keeping a stop loss of Rs 510.
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