Technical calls for today's session: Buy UPL, Voltas

Here are a few trading ideas from Chandan Taparia of Anand Rathi for Tuesday’s session:

 
BUY VOLTAS INDIA: The stock has been sustaining above its 200 DMA & 50 DMA and holding the support from last eight trading sessions. It is gradually moving higher from last the three weeks and making higher lows from and if follow up buying continues in the stock a fresh rally towards 355 and higher levels cannot be ruled out. Thus recommending to buy the stock with the stop loss of Rs 333 levels for the upside target of Rs 355.
 
BUY UPL: The stock is making higher highs – higher lows form last three weeks and gave the highest daily close of last fifty trading sessions. It surpassed the hurdle of 700 zones and is set to head towards 721 and higher levels. It is just few points away from its lifetime high levels and if follow up buying is seen then a rally towards new higher territory cannot be ruled out. Thus recommending to buy the stock with the stop loss Rs 679 for the upside target of Rs 721.
 
BUY BAJAJ FINANCE: The stock crossed and closed above its 915 zones and moved above its consolidation phase of last seven trading sessions. It gave the highest daily close of last thirty two trading sessions. It has formed an attractive price structure and looks attractive to head towards 945 and higher levels. Thus recommending to buy the stock with the stop loss Rs 889 for the upside target of Rs 945.
 
SELL APOLLO HOSPITALS: The stock failed to sustain it recent bounce back move and broke the support of 1180 zones. It has tendency of witnessing selling pressure after every meaningful bounce back move so bears may get the grip to drag it on lower levels. it is witnessing built up of short position with open interest addition of around 7% in the previous trading sessions. Thus, recommending selling the stock with the stop loss of Rs 1,220 for the downside immediate target of Rs 1,146.
 
Disclaimer: We are suggesting these stocks to our clients but not personal holdings.
 
Chandan Taparia is a Derivatives Analyst - Equity Research at Anand Rathi