Few trading ideas by Vaishali Parekh, Research Analyst - Technical Research at Prabhudas Lilladher:
With trend of all the periodicities being positive and Nifty closing at all time high levels; the bias is positive for the next projected target of 10,200-10,250. However, the support for the day is seen at 10,100 while resistance is seen at 10,200.
BUY GRANULES INDIA
CMP: Rs 134.55
TARGET: Rs 148
STOP LOSS: Rs 124
The stock after a consolidation phase for some time has given a strong spurt to give a decisive breakout above the 200-DMA and has indicated a strong positive bias with the RSI showing a steep rise. Also the MACD is indicating a positive trend reversal and further potential to rise still further upward. We recommend a buy in this stock for an upside target of Rs 148 keeping a stop loss of Rs 124.
BUY INTELLECT DESIGN ARENA
CMP: Rs 121.70
TARGET: Rs 135
STOP LOSS: Rs 112
The stock has been on a rise and now has moved past the 200-DMA with positive bias and has potential to rise still further up. The RSI has shown a trend reversal to signal a buy and MACD is also on the rise and indicate strength to support our call. With volume participation on the rise in recent times, we recommend a buy in this stock for an upside target of Rs 135 keeping a stop loss of Rs 112.
CMP: Rs 361.55
TARGET: Rs 395
STOP LOSS: Rs 335
The stock has made a strong recovery from the bottom made at Rs 291 and gradually has been on the rise. In the daily chart a higher bottom like pattern has been formed and the bullish candle now produced indicate a fresh positive bias with potential and strength to rally still further upward. We recommend a buy in this stock for an upside target of Rs 395 keeping a stop loss of Rs 335.
Disclaimer: The analyst may have positions in any or all the stocks mentioned above.