Top trading ideas by CapitalVia Global Research: Buy Adani Green, Thermax

Technical calls by Gaurav Garg, Head of Research, CapitalVia Global Research Limited- Investment Advisor

Nifty View
 

Nifty has been trading near 11,900 level. From the last four trading sessions, however, it is making newer highs and has closed at 11,913. In Wednesday’s trade the index demonstrated a range bound movement within 11,880 and 11,950 levels. Moving forward, we are expecting a bullish movement of Nifty towards 12,000 and the level of 11,900 will continue remain support.
 

Stock recommendation
 

BUY ADANI GREEN
 

CMP: Rs 52
 

Target: Rs 65
 

Stop Loss: Rs 44
 

The stock is in a continuous bullish trend. The level above 52 would also result into a multiple breakout on the charts as there is no real resistance above 52. Moving average and Oscillator setup is bullish on the short- and medium-term charts.
 

Considering this technical evidence, we recommend buying the stock at CMP for the target of Rs 65,

keeping a stop loss at Rs 44 on closing basis.
 

BUY THERMAX
 

CMP: Rs 1050
 

Target: Rs 1150
 

Stop loss: Rs 1030
 

Thermax has remained resilient in the recent past. The scrip is trading above all important moving averages. Considering this technical evidence, we recommend buying the stock at CMP for the target of Rs 1,150, keeping a stop loss at Rs 1,030 on closing basis. 

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Disclaimer: The analyst does not hold positions in any of the stocks mentioned above.