 "Top trading calls by Chandan Taparia of Anand Rathi")
Here are a few trading ideas from Chandan Taparia of Anand Rathi:
BUY HAVELLS: The stock gave a price breakout of last three weeks and crossed and closed above its 50 DMA. It has given a breakout from the July hurdle of Rs 290 levels and gave the highest daily close of last seventeen trading sessions. In the previous week it took support around Rs 267-268 zones and now it is all set to head towards Rs 300 and higher levels. Thus we are recommending buying the stock with the strict stop loss of Rs 280 for the upside target of Rs 300 levels.
BUY DABUR: The stock has taken support at Rs 231-233 zones and is holding the base from last eight weeks after the fall witnessed in the month of January from Rs 281 to Rs 231 levels. It is again taking support around the same zone and respecting to its 13 DMA from last seven trading sessions. It gave the highest daily close of last twenty three trading sessions. Thus we are recommending buying the stock with the strict stop loss of Rs 240 for the upside target of Rs 260 levels.
SELL INDIABULLS HOUSING FINANCE: The stock failed to hold the support of Rs 650 levels and is continuously making lower top – lower bottom price formation from four trading sessions. It failed to cross the hurdle of Rs 690 levels even after the recovery witnessed in previous week and started to decline with shorts being active in the counter. 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 662 for the downside target of Rs 620 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
BUY HAVELLS: The stock gave a price breakout of last three weeks and crossed and closed above its 50 DMA. It has given a breakout from the July hurdle of Rs 290 levels and gave the highest daily close of last seventeen trading sessions. In the previous week it took support around Rs 267-268 zones and now it is all set to head towards Rs 300 and higher levels. Thus we are recommending buying the stock with the strict stop loss of Rs 280 for the upside target of Rs 300 levels.
BUY DABUR: The stock has taken support at Rs 231-233 zones and is holding the base from last eight weeks after the fall witnessed in the month of January from Rs 281 to Rs 231 levels. It is again taking support around the same zone and respecting to its 13 DMA from last seven trading sessions. It gave the highest daily close of last twenty three trading sessions. Thus we are recommending buying the stock with the strict stop loss of Rs 240 for the upside target of Rs 260 levels.
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BUY LUPIN: The stock has given a breakout after the consolidation of last twenty two trading sessions. The support base is shifting to higher levels and gave the highest daily close of last twenty five trading sessions. So, recommending to buy the stock with the stop loss of Rs 1790 for the upside immediate target of Rs 1905 levels.
SELL INDIABULLS HOUSING FINANCE: The stock failed to hold the support of Rs 650 levels and is continuously making lower top – lower bottom price formation from four trading sessions. It failed to cross the hurdle of Rs 690 levels even after the recovery witnessed in previous week and started to decline with shorts being active in the counter. 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 662 for the downside target of Rs 620 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