Top trading ideas by Prabhudas Lilladher: Buy Hero MotoCorp, Sun Pharma

Nifty outlook and top trading ideas by Vaishali Parekh, research analyst - technical research at Prabhudas Lilladher.

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Market news:

MARKET VIEW
Market shows no signs of a strong pull back with the daily and weekly trend being down. Among the Nifty50 stocks, 41 stocks with 90 per cent weightage are corrective and only nine stocks on positive with 10 per cent are on positive. Support for the week is seen at 38,060/11,330 for the Sensex and Nifty, respectively, while resistance is seen at 39,360//11,750. Bank Nifty, too, has its weekly trend turned down and may see further weakness now with HDFC twins, ICICI etc showing weakness. Bias continues to be corrective and cautious.

BUY HERO MOTOCO

 CMP: Rs 2,569.80

 TARGET: Rs 2,800

 STOP LOSS: Rs 2,400

 The stock witnessed a decent erosion recently and has bottomed out near Rs 2,360 levels to give a bounce back and with the...read more

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