Intraday support for nifty seen at 9,840, says prabhudas lilladher

Intraday support for Nifty seen at 9,840, says Prabhudas Lilladher

STOCK MARKET - Few trading ideas by Vaishali Parekh, Research Analyst - Technical Research at Prabhudas Lilladher: Nifty outlook Nifty, after giving a correction of approximately 450 points, has bounced back to close at 9,897 which is the trend line, so currently Nifty lies at cusp of levels. The next

move up or down would bring in clarification for the direction of the market. The support for the day is seen at 9,840 while resistance is seen at 9,945.

BUY ACC CMP: Rs 1811.20 TARGET: Rs 2000 STOP LOSS: Rs 1750 The stock has made a higher bottom formation in the daily chart with a rising trend bias and is poised for an up move to scale new heights. The RSI has also made a trend reversal signaling a buy and with decent volume participation witnessed. We recommend a buy in this stock for an upside target of Rs 2000 keeping a stop loss of Rs 1750.

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