 "Top intraday calls from Chandan Taparia of Anand Rathi")
BUY TORRENT POWER:
STOPLOSS: Rs 219
TARGET: Rs 240
The stock has managed to hold onto its long term positive stance and is just 6% away from its 52 weeks high levels. It is continuously making higher top – higher bottom formation from last ten trading sessions and is respecting to its 50 DMA on closing basis. Thus according to its price behavior we are expecting a continuation in its positive move towards 240 and higher levels. Traders can buy the stock with the stop loss of 219 for the upside target of 240 levels.
STOPLOSS: Rs 126
TARGET: Rs 137
The stock took support at its 13 DMA and holding the gains with rising trading volumes even after a sharp fall in the broader market. It gave a strong breakout above 130-133 zones in the last week and the same level is providing support for next up move. So according to its current price placement it is showing the potential to head towards 137 and higher levels. Traders can buy the stock with the stop loss of 126 for the upside target of 137 levels.
SELL SRF:
STOPLOSS: Rs 1095
TARGET: Rs 1025
The stock is finding hurdle at immediate resistance levels and is witnessing selling pressure from last seven weeks. It broke its multiple support and has formed a negative structure with liquidation of long position in this entire series. It is holding below its 50 weekly moving average for the first time since November, 2013 thus indicating weakness and fresh round of selling in the counter. One can sell the stock with stop loss of 1095 for the downside target of 1025 levels.
SELL AMBUJA CEMENT:
STOPLOSS: Rs 199
TARGET: Rs 188
The stock has been falling from last five series and it witnesses selling pressure at every resistance levels. It failed to cross immediate hurdle of 197-200 zones and broke the immediate support of 192 levels indicating further weakness in the counter. It has been continuously making lower top – lower bottom formation and further weakness may drag the stock towards 188 and lower levels. One can sell the stock on bounce back move with stop loss of 199 for the downside target of 188 levels.
Disclaimer : We are suggesting all these stocks to our clients but no personal holdings.
Chandan Taparia is a technical analyst with Anand Rathi.
STOPLOSS: Rs 219
TARGET: Rs 240
The stock has managed to hold onto its long term positive stance and is just 6% away from its 52 weeks high levels. It is continuously making higher top – higher bottom formation from last ten trading sessions and is respecting to its 50 DMA on closing basis. Thus according to its price behavior we are expecting a continuation in its positive move towards 240 and higher levels. Traders can buy the stock with the stop loss of 219 for the upside target of 240 levels.
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BUY BANK OF BARODA:
STOPLOSS: Rs 126
TARGET: Rs 137
The stock took support at its 13 DMA and holding the gains with rising trading volumes even after a sharp fall in the broader market. It gave a strong breakout above 130-133 zones in the last week and the same level is providing support for next up move. So according to its current price placement it is showing the potential to head towards 137 and higher levels. Traders can buy the stock with the stop loss of 126 for the upside target of 137 levels.
SELL SRF:
STOPLOSS: Rs 1095
TARGET: Rs 1025
The stock is finding hurdle at immediate resistance levels and is witnessing selling pressure from last seven weeks. It broke its multiple support and has formed a negative structure with liquidation of long position in this entire series. It is holding below its 50 weekly moving average for the first time since November, 2013 thus indicating weakness and fresh round of selling in the counter. One can sell the stock with stop loss of 1095 for the downside target of 1025 levels.
SELL AMBUJA CEMENT:
STOPLOSS: Rs 199
TARGET: Rs 188
The stock has been falling from last five series and it witnesses selling pressure at every resistance levels. It failed to cross immediate hurdle of 197-200 zones and broke the immediate support of 192 levels indicating further weakness in the counter. It has been continuously making lower top – lower bottom formation and further weakness may drag the stock towards 188 and lower levels. One can sell the stock on bounce back move with stop loss of 199 for the downside target of 188 levels.
Disclaimer : We are suggesting all these stocks to our clients but no personal holdings.
Chandan Taparia is a technical analyst with Anand Rathi.