Intraday resistance for Nifty seen at 10,200, says Prabhudas Lilladher

Few trading ideas by Vaishali Parekh, Research Analyst - Technical Research at Prabhudas Lilladher:

Nifty View:

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.

BUY CDSL     

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.

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