 "Top intraday calls from Chandan Taparia of Anand Rathi")
BUY DABUR INDIA
LAST CLOSE: Rs 255
STOPLOSS:Rs 238
The stock has taken support at 230-235 zones and is holding the base from last six weeks after the fall witnessed in the month of January from 281 to 231 levels. It crossed its 13 DMA and gave the highest daily close of last ten trading sessions. It is turning from the lower levels and is now showing the potential to head towards 255 and higher levels. Thus we are recommending buying the stock with the strict stop loss of Rs 238 for the upside target of Rs 255 levels.
BUY SHRIRAM TRANSPORT FINANCE
STOPLOSS:Rs 810
The stock has been continuously taking support at its 50 DMA from last 4-5 trading sessions even after volatile swings seen in the broader market. It is trading in a broader range from 1020-735 levels from last 10 months and holding the gains above its 200 weekly moving average. Traders can buy the stock with the stop loss of Rs 810 for the upside target of Rs 870 levels.
SELL JUBILANT FOOD
LAST CLOSE: Rs 985
STOPLOSS:Rs 313
The stock has been falling from last eight series and it witnesses selling pressure at every resistance levels. It failed to cross immediate hurdle of 1070-1075 zones and the weakness may sustain in the counter. It has been continuously making lower top – lower bottom formation and further weakness may drag the stock towards 985 and lower levels. We have seen built up of short position in this series with open interest addition of around 23% and these short are intact in the counter. One can sell the stock on bounce back move with stop loss 1050 Rs 313 for the downside target of Rs 985 levels.
SELL INDIABULLS HOUSING FINANCE
LAST CLOSE: Rs 570
STOPLOSS:Rs 607
The stock failed to hold the support of 585 levels and is continuously making lower top – lower bottom price formation from five weeks. It is continuously witnessing selling pressure at every minor attempt to bounce back and failed to recover with recovery in the broader market. It has seen fresh built up of short position in this entire series with huge open interest addition of around 35%. It has been finding hurdle at every resistance levels and short term trend of the stock has turned to negative. One can sell the stock with stop loss of Rs 607 for the downside target of Rs 570 levels.
Disclaimer : We are suggesting all these stocks to our clients but no personal holdings.
Chandan Taparia is a technical analyst with Anand Rathi
LAST CLOSE: Rs 255
STOPLOSS:Rs 238
The stock has taken support at 230-235 zones and is holding the base from last six weeks after the fall witnessed in the month of January from 281 to 231 levels. It crossed its 13 DMA and gave the highest daily close of last ten trading sessions. It is turning from the lower levels and is now showing the potential to head towards 255 and higher levels. Thus we are recommending buying the stock with the strict stop loss of Rs 238 for the upside target of Rs 255 levels.
BUY SHRIRAM TRANSPORT FINANCE
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LAST CLOSE: Rs 870
STOPLOSS:Rs 810
The stock has been continuously taking support at its 50 DMA from last 4-5 trading sessions even after volatile swings seen in the broader market. It is trading in a broader range from 1020-735 levels from last 10 months and holding the gains above its 200 weekly moving average. Traders can buy the stock with the stop loss of Rs 810 for the upside target of Rs 870 levels.
SELL JUBILANT FOOD
LAST CLOSE: Rs 985
STOPLOSS:Rs 313
The stock has been falling from last eight series and it witnesses selling pressure at every resistance levels. It failed to cross immediate hurdle of 1070-1075 zones and the weakness may sustain in the counter. It has been continuously making lower top – lower bottom formation and further weakness may drag the stock towards 985 and lower levels. We have seen built up of short position in this series with open interest addition of around 23% and these short are intact in the counter. One can sell the stock on bounce back move with stop loss 1050 Rs 313 for the downside target of Rs 985 levels.
SELL INDIABULLS HOUSING FINANCE
LAST CLOSE: Rs 570
STOPLOSS:Rs 607
The stock failed to hold the support of 585 levels and is continuously making lower top – lower bottom price formation from five weeks. It is continuously witnessing selling pressure at every minor attempt to bounce back and failed to recover with recovery in the broader market. It has seen fresh built up of short position in this entire series with huge open interest addition of around 35%. It has been finding hurdle at every resistance levels and short term trend of the stock has turned to negative. One can sell the stock with stop loss of Rs 607 for the downside target of Rs 570 levels.
Disclaimer : We are suggesting all these stocks to our clients but no personal holdings.
Chandan Taparia is a technical analyst with Anand Rathi