Top trading ideas by Prabhudas Lilladher: Buy Kajaria Ceramics, Escorts
NIFTY VIEW Nifty has moved into a new zone from the range-bound levels but is finding difficulty to move past the 11150 levels while Bank Nifty has been consolidating for quite some time within a narrow range. With the expiry of F&O segment and release of stocks earning report, we anticipate some volatility in the market. However, the support for the day is seen at 11070 while resistance is seen at 11200. BUY KAJARIA CERAMICS CMP: Rs 444.30 TARGET: Rs 500 STOP LOSS: Rs 415 The stock has witnessed a decent erosion from the peak of 580 to signs of bottoming out at around 414 levels and has indicated a good bounce with rising volume to signify strength. The RSI has indicated a trend reversal from the oversold zone and has signaled a buy. The chart looks attractive for an entry at this levels with minimum risk reward ratio. With good volume activity seen, we recommend a buy in this stock for an upside target of 500 maintaining a stop loss of 415 levels. BUY ESCORTS CMP: Rs 886.30 TARGET: Rs 965