 "Top technical calls from Chandan Taparia of Anand Rathi")
MARUTI SUZUKI: BUY
TARGET: Rs 4590
Stop Loss: Rs 4295
It is holding its positive stance and consolidating in a range even after a profit booking decline in the broader market which indicates that the major trend of the stock is intact to positive. It is continuously taking support at its rising support trend line and has been respecting to its 50 DMA. It negated the negativity of last two trading sessions and formed a DOJI candle on daily chart.
TARGET: Rs 4590
Stop Loss: Rs 4295
It is holding its positive stance and consolidating in a range even after a profit booking decline in the broader market which indicates that the major trend of the stock is intact to positive. It is continuously taking support at its rising support trend line and has been respecting to its 50 DMA. It negated the negativity of last two trading sessions and formed a DOJI candle on daily chart.
CENTURY TEXTILES & INDUSTRIES: BUY
TARGET: Rs 570
Stop Loss: Rs 530
it has formed a bullish pattern and crossed its 50 DMA after taking support which is shifting to higher levels with significant rise in trading volumes even after the volatility in the broader market. Thus showing the potential to move towards Rs 570 and higher levels.
TARGET: Rs 570
Stop Loss: Rs 530
it has formed a bullish pattern and crossed its 50 DMA after taking support which is shifting to higher levels with significant rise in trading volumes even after the volatility in the broader market. Thus showing the potential to move towards Rs 570 and higher levels.
VEDANTA : SELL
TARGET: Rs 95
Stop Loss: Rs 106
The stock has broken the immediate support of Rs 101-100 zones and it started to decline with liquidation of long position. The stock has dull price behavior and witnesses selling pressure at every small bounce back. It has been making lower highs lower lows formation from last two weeks.
TARGET: Rs 95
Stop Loss: Rs 106
The stock has broken the immediate support of Rs 101-100 zones and it started to decline with liquidation of long position. The stock has dull price behavior and witnesses selling pressure at every small bounce back. It has been making lower highs lower lows formation from last two weeks.
CROMPTON GREAVES : SELL
TARGET: Rs 167
Stop Loss: Rs 182
It has broken its support trend line and has formed a bearish pattern. It failed to cross the hurdle of Rs 192 zones and has been falling from last two weeks with built up of short position. So according to its recent price behavior weakness in the counter cannot be ruled out towards Rs 171 and lower levels.
TARGET: Rs 167
Stop Loss: Rs 182
It has broken its support trend line and has formed a bearish pattern. It failed to cross the hurdle of Rs 192 zones and has been falling from last two weeks with built up of short position. So according to its recent price behavior weakness in the counter cannot be ruled out towards Rs 171 and lower levels.
Disclaimer : We are suggesting all these stocks to our clients but no personal holdings.
Chandan Taparia is a technical analyst with Anand Rathi Retail Research
Chandan Taparia is a technical analyst with Anand Rathi Retail Research