 "Buy Siemens, Infosys, says Chandan Taparia of Anand Rathi")
BUY SIEMENS: The stock has taken multiple supports and the base is shifting to higher levels. It is trading above its 50 DMA from last three trading sessions and it also crossed and closed above its immediate hurdle of Rs 1090 - Rs 1092 levels. Overall it has rising from last five trading sessions and gave the highest daily close of last forty five trading sessions. Thus recommending to buy the stock with the stop loss of Rs 1050 for the upside target of Rs 1115 levels.
BUY INFY: The stock is just few points away from its life time high levels and registered highest daily close. It recaptured its Rs 1200 territory after the struggle of last four months and is continuously respecting 200 DMA from last fifty two trading sessions. The long terms trend of the stock is intact to positive and now up move in the unchartered territory towards Rs 1235 and higher levels cannot be ruled out. Thus recommending to buy the stock with the stop loss of Rs 1160 for the upside target of Rs 1235 levels.
SELL BANKINDIA: The stock failed to cross its hurdle of Rs 100 levels and is continuously finding hurdle at every resistance levels even after the recovery in the broader market. It has been adding fresh shorts at every meaning full resistance levels and witnessing call writing at Rs 95, Rs 97.50 and Rs 100 strikes. It has been making lower top – lower bottom formation on daily, weekly and monthly chart and has a tendency of witnessing selling pressure at every minor attempt to bounce back. One can sell the stock with stop loss of Rs 101 for the downside target of Rs 93.50 levels.
SELL HINDPETRO: It has failed to sustain above its Rs 775 - Rs 780 levels and negated the hopes of recovery in the stock. It is turning from the resistance levels and shorts are being active in the counter. It has formed a short term negative pattern at its current price juncture as it broke its support of Rs 750 levels and a further decline towards Rs 735 and lower levels cannot be ruled out. One can sell the stock with stop loss of Rs 782 for the downside target of Rs 735 levels.
Disclaimer : We are suggesting all these stocks to our clients but no personal holdings.