Stocks for Tomorrow
& Nifty Outlook

Stocks

Stock Ideas 13/11/2018

BERGEPAINT - Stock is trading at the support level of trend-line on the daily chart. The stock is consolidating in a range and trading around 200 EMA on the hourly chart. We recommend buying from the current level for the target of 305 with the stop loss of 295.
 
ULTRACEMCO - Stock has shown good upside rally but today it has shown weakness and closed near to days low. The RSI is also indicating downside on the daily chart. We recommend selling from the current level for the target of 3700 with the stop loss of 3750.
 
AUROPHARMA - Stock was negative in today's trading session with low volume and closed near to days low. It is trading at a strong support level of the trend-line. We recommend buying from the current level for the target of 805 with the stop loss of 790

Nifty Outlook

Nifty Outlook - 13-11-2018
 
Nifty forms a bearish engulfing pattern indicating a short-term reversal placed on higher levels of 10600 - 10620. A closing was seen below the trading range of previous few sessions indicating a violation of short-term supports and bears grip may further tighten.
 
It was a classical pullback on the charts with Nifty trading in a tight range amid festivals and as soon as we saw some volume coming back it was weak in breadth and bears took complete advantage of it. A close below previous sessions trading range further indicated a bearish sentiment which means lower supports of 10300 - 10320 may be tested. Resistance is now clearly visible in the range of 10600 and further, if the pattern is to be believed we may see 4 digits in the coming month. 
 
We suggest cautiousness and approach with a sell on advances as a strategy in short-term as we may see further weakness coming in.