Nifty outlook and 3 trading ideas for today's session prabhudas lilladher

Nifty outlook and 3 trading ideas for today's session: Prabhudas Lilladher

STOCK MARKET - Few trading ideas by Vaishali Parekh, Research Analyst - Technical Research at Prabhudas Lilladher: Nifty Outlook Nifty is showing some resistance at the peak levels, post RBI announcement market witnessed some selling pressure. However near-term support lies at 10,020 while a decisive break can drag it to 9,960 level. The support for the day lies at 10,030 while resistance is seen at 10,125.

BUY AMBUJA CEMENTS

CMP: Rs 266.60 TARGET: Rs 290 STOP LOSS: Rs 256 The stock after giving a small correction has made a higher bottom formation pattern in the daily chart with a positive candle and also has been accompanied by decent volume participation.

The RSI indicator has given a positive trend reversal to signal a buy and we anticipate the stock to further rally to reach new targets on the upper side. We recommend a buy in this stock for an upside target of Rs 290 keeping a stop loss of Rs 256.

BUY IRB INFRA CMP: Rs 225.85 TARGET: Rs 245 STOP LOSS: Rs 213

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