 "Four trading calls from Chandan Taparia")
HINDUSTAN UNILEVER: BUY
Target: Rs 842
Stop Loss: Rs 786
The stock is turning from the lower levels after forming double bottom pattern on daily chart. It crossed the hurdle of Rs 815 levels and gave the highest daily close of last two weeks. It is making higher highs - higher lows from last two trading sessions and negated its negative trend on weekly chart. So recommending buying the stock with the stop loss of Rs 786 for the upside target of Rs 842 levels.
Target: Rs 842
Stop Loss: Rs 786
The stock is turning from the lower levels after forming double bottom pattern on daily chart. It crossed the hurdle of Rs 815 levels and gave the highest daily close of last two weeks. It is making higher highs - higher lows from last two trading sessions and negated its negative trend on weekly chart. So recommending buying the stock with the stop loss of Rs 786 for the upside target of Rs 842 levels.
TCS : BUY
Target: Rs 2,723
Stop Loss: Rs 2,555
It has been consolidating in a broader range from last couple of weeks but the support is slightly shifting to higher levels which indicates that every decline near the support is a buying opportunity. Even though, it is stuck in a range but still managed to sustain the gains above its 50 DMA. Thus recommending buying the stock with the stop loss of Rs 2555 for the upside target of Rs 2723 levels.
Target: Rs 2,723
Stop Loss: Rs 2,555
It has been consolidating in a broader range from last couple of weeks but the support is slightly shifting to higher levels which indicates that every decline near the support is a buying opportunity. Even though, it is stuck in a range but still managed to sustain the gains above its 50 DMA. Thus recommending buying the stock with the stop loss of Rs 2555 for the upside target of Rs 2723 levels.
SIEMENS: BUY
Target: Rs 1,395
Stop Loss: Rs 1,295
It has been making higher highs from last three trading sessions and crossed the hurdle of Rs 1340 levels and also gave the highest daily close of last 26 trading sessions. As per the recent data and price behavior it is well placed to see the next round of momentum towards Rs 1395 and higher levels. Thus recommending to go long in the stock with the stop loss of Rs 1295 for the upside target of Rs 1395 levels.
Target: Rs 1,395
Stop Loss: Rs 1,295
It has been making higher highs from last three trading sessions and crossed the hurdle of Rs 1340 levels and also gave the highest daily close of last 26 trading sessions. As per the recent data and price behavior it is well placed to see the next round of momentum towards Rs 1395 and higher levels. Thus recommending to go long in the stock with the stop loss of Rs 1295 for the upside target of Rs 1395 levels.
SYNDICATE BANK: SELL
Target: Rs 79
Stop Loss: Rs 86.25
The stock failed to cross a strong hurdle of Rs 85-86 zones and has been making lower top – lower bottom formation. It is witnessing built up of short position and these shorts are intact in the counter with short rollover from previous series to current series. We are expecting this weakness to continue for next coming sessions. So, one can sell the stock with the stop loss of Rs 86.25 for the downside target of Rs 79 levels.
Target: Rs 79
Stop Loss: Rs 86.25
The stock failed to cross a strong hurdle of Rs 85-86 zones and has been making lower top – lower bottom formation. It is witnessing built up of short position and these shorts are intact in the counter with short rollover from previous series to current series. We are expecting this weakness to continue for next coming sessions. So, one can sell the stock with the stop loss of Rs 86.25 for the downside target of Rs 79 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
Chandan Taparia is a technical analyst with Anand Rathi Retail Research