 "Stocks to buy and sell today")
BUY ITC: The stock has been consolidating from last eight trading sessions and is holding the support base after the decline witnessed in the month of September. It is consolidating above its 50 weekly moving average and narrowing from last two weeks. Thus one can buy the stock with the stop loss of Rs 230 for the upside immediate target of Rs 248 levels.
BUY TATACOFFEE: The stock registered fresh 52-week high at Rs 143 levels even after selling pressure seen in the broader market. It gave a consolidation breakout and has formed a strong price structure on daily chart. It gave the highest daily, weekly and monthly close in last 39 months and now it is well placed to head towards Rs 145 and higher levels. Thus one can buy the stock with the stop loss of Rs 135 for the upside immediate target of Rs 145 levels.
SELL EXIDEIND: The stock has been making lower top – lower bottom from last six trading sessions. It failed to sustain above its hurdle of Rs 198-200 zones and started to decline with fresh built up of short position. It gave the lowest close of last nine trading sessions. One can sell the stock with the stop loss of Rs 194 for the downside immediate target of Rs 180 levels.
SELL ABIRLANUVO: The stock had bounced back from Rs 1371 to Rs 1450 zones but is now finding pause in the up move and giving an early sign of topping out formation. It failed to sustain above the Rs 1450 levels and is hovering near its major supply zone. The recent pull back is giving an opportunity to sell for the sharp downside move if the support trend line is broken. One can sell the stock with the stop loss of Rs 1417 for the downside immediate target of Rs 1333 levels.
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Disclaimer: We are suggesting these stocks to our clients but not personal holdings.
Chandan Taparia is a Derivatives Analyst - Equity Research at Anand Rathi