 "Chart Check: Power Grid, Pidilite, Bharat Financial, Aurobindo Pharma")
Here are a few trading ideas from Chandan Taparia of Anand Rathi for trade today:
BUY POWER GRID: The stock has given a fresh breakout on daily, weekly and monthly chart as managed to hit its record life time high levels. It has been making higher top – higher bottom formation from last five months with support base shifting higher. One can buy the stock with the stop loss of 179 for the upside immediate target of 192.50 levels.
BUY PIDILITE INDUSTRIES: The stock surpassed the immediate falling trend line and crossed and closed above its 50 DMA. It negated the losing streak of last four weeks and surpassed above its hurdle of 722 levels. Thus one can buy the stock with the stop loss of 692 levels for the upside target of 740 levels.
BUY BHARAT FINANCIAL: The stock gave a breakout and is moving after taking multiple supports. It witnessed built up of long position and attracting buying interest at the lower levels. It surpassed the immediate hurdle of 830 levels and gave the highest daily close of last 18 trading sessions. So one can buy the stock with the stop loss of 800 for the upside target of 855 levels.
SELL AUROBINDO PHARMA: The stock failed to surpass its hurdle of 808 zones and started to decline. It witnessed built up of short position. It has added fresh short position which may cause a decline before starting the next upswing of the stock. So, one can sell the stock with the stop loss 812 for the downside immediate target of 764 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 POWER GRID: The stock has given a fresh breakout on daily, weekly and monthly chart as managed to hit its record life time high levels. It has been making higher top – higher bottom formation from last five months with support base shifting higher. One can buy the stock with the stop loss of 179 for the upside immediate target of 192.50 levels.
BUY PIDILITE INDUSTRIES: The stock surpassed the immediate falling trend line and crossed and closed above its 50 DMA. It negated the losing streak of last four weeks and surpassed above its hurdle of 722 levels. Thus one can buy the stock with the stop loss of 692 levels for the upside target of 740 levels.
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BUY BHARAT FINANCIAL: The stock gave a breakout and is moving after taking multiple supports. It witnessed built up of long position and attracting buying interest at the lower levels. It surpassed the immediate hurdle of 830 levels and gave the highest daily close of last 18 trading sessions. So one can buy the stock with the stop loss of 800 for the upside target of 855 levels.
SELL AUROBINDO PHARMA: The stock failed to surpass its hurdle of 808 zones and started to decline. It witnessed built up of short position. It has added fresh short position which may cause a decline before starting the next upswing of the stock. So, one can sell the stock with the stop loss 812 for the downside immediate target of 764 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