 "Anand Rathi recommends buy on GAIL, Ashok Leyland, Bharat Financial")
Here are a few trading ideas from Chandan Taparia of Anand Rathi for trade today:
BUY GAIL: The stock is moving after taking multiple supports and surpassed the immediate falling supply trend line. It gave the highest daily close of last twelve trading sessions and witnessed a pause in the recent down fall. It has turned from the lower levels and now a further up move towards Rs 388 and higher levels. Thus recommending buying the stock with the stop loss of Rs 364 for the upside immediate target of Rs 388 levels.
BUY ASHOK LEYLAND: The stock has taken multiple support and is showing the early signs of bottoming out at the lower levels. It is indicating a pause in the recent selling pressure and witnessing buying interest at the lower levels. Thus also looks attractive in terms of risk reward ratio. Thus recommending buying the stock with the stop loss of Rs 83 for the upside immediate target of Rs 90 levels.
BUY BHARAT FINANCIAL: The stock surpassed immediate falling trend and is moving after taking multiple support. It witnessed built up of long position and witnessed buying interest at the lower levels even after selling pressure seen in the broader market. So one can buy the stock with the stop loss of Rs 760 for the upside target of Rs 808 levels.
SELL BANK OF INDIA: The stock failed to cross the multiple hurdles of Rs 115-116 levels and also broke the immediate support of Rs 111 levels. It has been witnessing built up of short position on the first trading session of the new series and short rollover was also seen. One can sell the stock with the stop loss of Rs 115 for the downside immediate target of Rs 107 levels.
Disclaimer: We are suggesting these stocks to our clients but not personal holdings
Chandan Taparia is a Derivatives Analyst - Equity Research at Anand Rathi
BUY GAIL: The stock is moving after taking multiple supports and surpassed the immediate falling supply trend line. It gave the highest daily close of last twelve trading sessions and witnessed a pause in the recent down fall. It has turned from the lower levels and now a further up move towards Rs 388 and higher levels. Thus recommending buying the stock with the stop loss of Rs 364 for the upside immediate target of Rs 388 levels.
BUY ASHOK LEYLAND: The stock has taken multiple support and is showing the early signs of bottoming out at the lower levels. It is indicating a pause in the recent selling pressure and witnessing buying interest at the lower levels. Thus also looks attractive in terms of risk reward ratio. Thus recommending buying the stock with the stop loss of Rs 83 for the upside immediate target of Rs 90 levels.
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SELL BANK OF INDIA: The stock failed to cross the multiple hurdles of Rs 115-116 levels and also broke the immediate support of Rs 111 levels. It has been witnessing built up of short position on the first trading session of the new series and short rollover was also seen. One can sell the stock with the stop loss of Rs 115 for the downside immediate target of Rs 107 levels.
Disclaimer: We are suggesting these stocks to our clients but not personal holdings
Chandan Taparia is a Derivatives Analyst - Equity Research at Anand Rathi