 "Anand Rathi recommends buy on Talwalkar, IRB Infrastructure, Aurobindo Pharma")
Here are a few trading ideas from Chandan Taparia of Anand Rathi for trade today:
BUY TALWALKAR: The stock gave strong price volume breakout and surpassed the hurdle of Rs 272- Rs 274 levels. It has continuously rising higher and making higher highs – higher lows from last four trading sessions. It has turned from the lower levels thus also looks attractive in terms of risk reward ratio. So, recommending buying the stock with the stop loss of Rs 262 for the upside immediate target of Rs 284 levels.
BUY IRB INFRASTRUCTURE: The stock is at seven months high levels and holding the gains from last seven trading sessions. It is giving the sense of a breakout from its recent consolidation phase and if the follow up buying is seen then the stock may head towards Rs 255 and higher levels. We have fundamentally contrary view on the stock but suggesting a trade for immediate bounce towards Rs 255 levels. So, recommending buying the stock with the stop loss of Rs 239 for the upside immediate target of Rs 255 levels.
SELL KOTAK MAHINDRA BANK: The stock broke the support of Rs 800 levels and failed to sustain its higher levels due to lack of buying interest. It has added short position with open interest addition of around 6% which may cause a decline before starting the next upswing of the stock. One can sell the stock on a small bounce back move with strict stop loss of Rs 825 for the downside target of Rs 777 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 TALWALKAR: The stock gave strong price volume breakout and surpassed the hurdle of Rs 272- Rs 274 levels. It has continuously rising higher and making higher highs – higher lows from last four trading sessions. It has turned from the lower levels thus also looks attractive in terms of risk reward ratio. So, recommending buying the stock with the stop loss of Rs 262 for the upside immediate target of Rs 284 levels.
BUY IRB INFRASTRUCTURE: The stock is at seven months high levels and holding the gains from last seven trading sessions. It is giving the sense of a breakout from its recent consolidation phase and if the follow up buying is seen then the stock may head towards Rs 255 and higher levels. We have fundamentally contrary view on the stock but suggesting a trade for immediate bounce towards Rs 255 levels. So, recommending buying the stock with the stop loss of Rs 239 for the upside immediate target of Rs 255 levels.
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BUY AUROBINDO PHARMA: The stock has given a consolidation breakout by forming higher lows and is all set to cross its multiple series hurdle of Rs 825- Rs 830 zones. The stock has formed a positive price structure and fresh built up of long position may take the stock towards Rs 830 and higher levels. So, recommending buying the stock with the stop loss of Rs 780 for the upside immediate target of Rs 830 levels.
SELL KOTAK MAHINDRA BANK: The stock broke the support of Rs 800 levels and failed to sustain its higher levels due to lack of buying interest. It has added short position with open interest addition of around 6% which may cause a decline before starting the next upswing of the stock. One can sell the stock on a small bounce back move with strict stop loss of Rs 825 for the downside target of Rs 777 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