 "Top intraday calls from Chandan Taparia of Anand Rathi")
BUY CEAT:
STOP LOSS: Rs 910
TARGET: RS 970
The stock has recently taken support near its 882 zones and holding the gains even after the market weakness. It witnessed a strong spurt with rising volume activity and surpassed the immediate hurdle of 930 zones. It gave the highest daily close of last 15 trading sessions and now looks strong to continue the up move towards 970 and higher levels. Thus, recommending buying the stock with the stop loss of 910 for the upside target of 970 levels.
BUY POWERGRID CORP:
STOP LOSS: Rs 137.50
TARGET: RS 148
The stock has been consolidating in a range and holding the gains above immediate support of 140 zones. It witnessed a strong run up from 131 to 150 zones in the last week of January month and now pause of last two weeks indicates that immediate trend is still intact for further momentum. Thus, recommending buying the stock with the stop loss of 137.50 for the upside target of 148 levels.
BUY TVSMOTOR:
STOP LOSS: Rs 276
TARGET: RS 296
The stock is respecting to its 50 DMA from last seventeen weeks and holding the support base even after the volatility swing witnessed in the broader market. It has been holding the gains on any decline and also comfortably respecting to its support of 277-276 zones from last three week. Thus, recommending buying the stock with the stop loss of 276 for the upside target of 296 levels.
SELL CAIRN INDIA
STOP LOSS: Rs 124
TARGET: RS 113
The stock has been making lower top – lower bottom formation with sustained selling pressure at every small bounce back move. It has recently failed to surpass its immediate hurdle of 128-129 zones and again started to decline with liquidation of long position. One can sell the stock with stop loss of 124 for the downside target of 113 levels.
Chandan Taparia is a technical analyst with Anand Rathi
STOP LOSS: Rs 910
TARGET: RS 970
The stock has recently taken support near its 882 zones and holding the gains even after the market weakness. It witnessed a strong spurt with rising volume activity and surpassed the immediate hurdle of 930 zones. It gave the highest daily close of last 15 trading sessions and now looks strong to continue the up move towards 970 and higher levels. Thus, recommending buying the stock with the stop loss of 910 for the upside target of 970 levels.
BUY POWERGRID CORP:
STOP LOSS: Rs 137.50
TARGET: RS 148
The stock has been consolidating in a range and holding the gains above immediate support of 140 zones. It witnessed a strong run up from 131 to 150 zones in the last week of January month and now pause of last two weeks indicates that immediate trend is still intact for further momentum. Thus, recommending buying the stock with the stop loss of 137.50 for the upside target of 148 levels.
BUY TVSMOTOR:
STOP LOSS: Rs 276
TARGET: RS 296
The stock is respecting to its 50 DMA from last seventeen weeks and holding the support base even after the volatility swing witnessed in the broader market. It has been holding the gains on any decline and also comfortably respecting to its support of 277-276 zones from last three week. Thus, recommending buying the stock with the stop loss of 276 for the upside target of 296 levels.
SELL CAIRN INDIA
STOP LOSS: Rs 124
TARGET: RS 113
The stock has been making lower top – lower bottom formation with sustained selling pressure at every small bounce back move. It has recently failed to surpass its immediate hurdle of 128-129 zones and again started to decline with liquidation of long position. One can sell the stock with stop loss of 124 for the downside target of 113 levels.
Disclaimer
: We are suggesting all these stocks to our clients but no personal holdings.Chandan Taparia is a technical analyst with Anand Rathi