Stock ideas from Anand Rathi's Nilesh Jain: Buy Titan, LIC Housing Finance

Titan's stock has formed a short-term base and also given a breakout from a falling wedge pattern on the hourly chart

SELL NIFTY | TARGET: 9,100 | STOP LOSS: 9,400

Nifty is trading in a rising wedge pattern on the daily chart and, currently, is facing stiff resistance at around 9,400 levels. Momentum indicator RSI has shown negative divergence on the hourly chart, where RSI has made lower high, and Nifty has made higher high. That shows that Nifty is losing strength and we may see some selling pressure towards 9,100 levels

BUY APOLLOHOSP | TARGET: 1,460 | STOP LOSS: 1,380

The stock has formed a morning star candlestick pattern on the daily chart which is considered as a bullish reversal pattern. The stock has also provided breakout on the higher side from a pennant pattern on the daily chart which indicates positive momentum to continue in the short term. Momentum oscillator, MACD, is very well in buy mode on daily as well as well as hourly scale.

BUY TITAN | TARGET: 990 | STOP LOSS: 890

The stock has formed a short-term base and also given a breakout from a falling wedge pattern on the hourly chart. The stock has also made a double bottom at 893 levels and showing a strong pullback from the same. Momentum oscillator MACD has provided buy crossover on the hourly chart.

SELL LICHSGFIN | TARGET: 236 | STOP LOSS: 263

The stock is on the verge of a breakdown from a rising channel on the daily chart. The conservative target of this pattern is coming around 236 levels. The momentum indicators and oscillators have also provided sell crossover on the hourly chart.

Disclaimer: Nilesh Jain is Technical and Derivatives analyst - Equity Research at Anand Rathi Shares and Stock Brokers. He may ave positions in one or all of the above mentioned stocks. Views are his own.