 "3 stocks you can buy today")
BUY BAJAJ CORP: It has taken multiple supports near Rs 411 - 415 zones and has negated the negative trend of last four weeks. It looks attractive in terms of risk reward ratio as it has managed to hold the support base and showing the early sign of trend reversal. Thus recommending the traders to buy the stock with the stop loss Rs 405 for the upside immediate target of Rs 435 levels.
BUY ASHOK LEYLAND: The trend is intact to positive and it is continuously taking support at its rising support trend line. It negated the negative pattern of last four trading sessions of making lower highs- lower lows and edged higher. It formed a bullish engulfing candle on daily chart which has positive implication. Thus recommending the traders to buy the stock with the stop loss Rs 89.50 for the upside immediate target of Rs 97 levels.
BUY VOLTAS: It crossed the hurdle of Rs 291 zones after the consolidation of last six trading sessions. It has managed to hold the support base, which is shifting to higher levels even after the pressure in the broader market. Thus recommending the traders to buy the stock on decline with the stop loss Rs 278 for the upside immediate target of Rs 303 levels.
SELL COALINDIA: It failed to hold immediate support of Rs 333 zones and has been witnessing selling pressure from last four trading sessions in the absence of follow of buying in the counter. It had witnessed a bounce back in the initial three weeks of the series but could not cross Rs 345 zones and is turning back to lower levels. We are expecting a further fall in the counter towards Rs 314 zones. Recommend selling the stock with stop loss of Rs 335 for the downside target of Rs 310 levels.
The author is Derivatives Analyst - Equity Research at Anand Rathi
Disclaimer : We are suggesting all these stocks to our clients but no personal holdings