Support for Nifty seen at 11,320, resistance at 11,440- Prabhudas Lilladher

Support for Nifty seen at 11,320, resistance at 11,440: Prabhudas Lilladher

Nifty outlook and few trading ideas by Vaishali Parekh, Research Analyst Technical Research at Prabhudas Lilladher: NIFTY VIEW Nifty continues to consolidate since the past 3 days with a close nearly at the same level.

The support for the day lies at 37,440/11,320 while resistance is seen at 37,830/11,440.

Bank Nifty would have a range of 27,620-28,100.

BUY RECL CMP: Rs 117.70 TARGET: Rs 136 STOP LOSS: Rs 106

The stock has made a good base at around 90 levels after a decent correction and has given a good bounce back and currently, the stock has been consolidating for quite some time at around 115 levels and gaining strength for a further rally.

BUY CHOLA FINANCE CMP: Rs 1,438 TARGET: Rs 1,560 STOP LOSS: Rs 1,400 The stock has been moving around the significant 200 DMA moving average taking a good support and we anticipate a further upward movement in the coming days with RSI also consolidating around the oversold zone and gaining the potential to make a bounce in the upward direction.

ARTICLE SOURCE: BS