 "Buy, Sell ideas from Anand Rathi for Thursday's session")
Here are a few trading ideas from Chandan Taparia of Anand Rathi for trade today.
BUY CUMMINS INDIA: The stock is giving the signs of bottoming out and is set to start fresh rally after consolidating at the lower levels. It held onto the gains even after the profit taking seen in the broader market. So one can buy the stock to grab the opportunity of attractive risk reward ratio with the stop loss of Rs 752 for the upside immediate target of Rs 802.
BUY BHARTI INFRATEL: The stock held onto the gains at its multiple support levels. It has a tendency of turning from the support levels of it recent trading range from last thirteen weeks and expecting the same to continue in next coming session. So one can buy the stock on small decline to gain from the short covering activities with the stop loss of Rs 340 for the upside immediate target of Rs 365.
SELL GAIL: The stock is making lower highs lower lows from last four trading sessions and failed to surpass the hurdle of 435 levels. It started to witness selling pressure and has added shorts of around 3% in last trading session. Thus, supporting our short term negative view in the counter for a decline towards 410 and lower levels. So, one can sell with the stop loss of Rs 438 for the downside immediate target of Rs 410.
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 CUMMINS INDIA: The stock is giving the signs of bottoming out and is set to start fresh rally after consolidating at the lower levels. It held onto the gains even after the profit taking seen in the broader market. So one can buy the stock to grab the opportunity of attractive risk reward ratio with the stop loss of Rs 752 for the upside immediate target of Rs 802.
BUY BHARTI INFRATEL: The stock held onto the gains at its multiple support levels. It has a tendency of turning from the support levels of it recent trading range from last thirteen weeks and expecting the same to continue in next coming session. So one can buy the stock on small decline to gain from the short covering activities with the stop loss of Rs 340 for the upside immediate target of Rs 365.
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SELL UNION BANK OF INDIA: The stock broke the support of 140 levels and failed to surpass 145 levels. The shorts are intact in the counter with open interest addition of around 5% in previous session. It gave the lowest daily close of last twenty three trading sessions and according to its current price placement a further decline towards 138 and lower levels may be seen. Thus recommending to sell the stock with the stop loss of Rs 145.50 levels for the downside target of Rs 138.
SELL GAIL: The stock is making lower highs lower lows from last four trading sessions and failed to surpass the hurdle of 435 levels. It started to witness selling pressure and has added shorts of around 3% in last trading session. Thus, supporting our short term negative view in the counter for a decline towards 410 and lower levels. So, one can sell with the stop loss of Rs 438 for the downside immediate target of Rs 410.
Disclaimer: We are suggesting these stocks to our clients but not personal holdings.
Chandan Taparia is a Derivatives Analyst - Equity Research at Anand Rathi.