 "Four stocks to buy today")
RALLIS INDIA: BUY
Target: Rs 228
Stop Loss: Rs 203
APOLLO TYRES: BUY
Target: Rs 194
Stop Loss: Rs 177
It surpassed the falling supply trend line and gave a strong breakout with the highest daily close of last thirteen trading sessions. It has made a strong base and crossed its 50 DMA. Thus traders can buy the stock with stop loss of Rs 177 for the upside immediate target of Rs 194 levels.
SHRIRAM TRANSPORT: BUY
Target: Rs 920
Stop Loss: Rs 835
It has been moving upwards from last three trading sessions and crossed its immediate hurdle of Rs 850 and Rs 880 zones. We are expecting sharp move led by short covering activities towards Rs 920 and higher levels. Thus traders can buy the stock with stop loss of Rs 835 for the upside immediate target of Rs 920 levels.
BPCL: BUY
Target: Rs 863
Stop Loss: Rs 820
It has formed base at Rs 815- 820 zones and added Open interest by more than 5% in last couple of trading sessions. It is turning from the major support with rising trading and open interest activity. So one can go long in the stock with the stop loss of Rs 820 for the upside target of Rs 863 levels.
Disclaimer : We are suggesting all these stocks to our clients but no personal holdings.
Chandan Taparia is a technical analyst with Anand Rathi Retail Research
Target: Rs 228
Stop Loss: Rs 203
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It has taken multiple support at Rs 203-205 zones and turning from the lower band of the trading range. It has given highest close in last eight trading sessions and looks attractive in terms of risk reward ratio as per price behavior to move towards Rs 228 and higher levels. Thus traders can buy the stock with stop loss of Rs 203 for the upside immediate target of Rs 228 levels.
APOLLO TYRES: BUY
Target: Rs 194
Stop Loss: Rs 177
It surpassed the falling supply trend line and gave a strong breakout with the highest daily close of last thirteen trading sessions. It has made a strong base and crossed its 50 DMA. Thus traders can buy the stock with stop loss of Rs 177 for the upside immediate target of Rs 194 levels.
SHRIRAM TRANSPORT: BUY
Target: Rs 920
Stop Loss: Rs 835
It has been moving upwards from last three trading sessions and crossed its immediate hurdle of Rs 850 and Rs 880 zones. We are expecting sharp move led by short covering activities towards Rs 920 and higher levels. Thus traders can buy the stock with stop loss of Rs 835 for the upside immediate target of Rs 920 levels.
BPCL: BUY
Target: Rs 863
Stop Loss: Rs 820
It has formed base at Rs 815- 820 zones and added Open interest by more than 5% in last couple of trading sessions. It is turning from the major support with rising trading and open interest activity. So one can go long in the stock with the stop loss of Rs 820 for the upside target of Rs 863 levels.
Disclaimer : We are suggesting all these stocks to our clients but no personal holdings.
Chandan Taparia is a technical analyst with Anand Rathi Retail Research