Nifty outlook and top trading ideas by Devang Shah for today
NIFTY CLOSE- 11557.10 (24.08.2018) The market closed the 5th consecutive week in positive territory. It has achieved my short term targets levels near recent high as expected. It made a high of 11,620.70 levels on Nifty & 38,487.63 levels on Sensex during the week. It looks like extension case further as per short-term wave count chart. Any kind of short-term consolidation or correction is stock specific buying opportunity till short-term reverses. Stock Picks: DHFL - BUY CLOSE – Rs 655.50 TARGET – Rs 700-740 DHFL closed the weekly in negative territory. Its consolidated in a narrow range during the week. Its daily momentum indicators are in BUY. It is trading above 20DMA. One can BUY with a stop loss of Rs-626 for the target of Rs 700-740 levels in short-term. POWER GRID - BUY