 "Top trading ideas from Chandan Taparia of Anand Rathi")
PRAJ INDUSTRIES: BUY
STOP LOSS: Rs 93
TARGET: Rs 102
It has given a consolidation breakout after the accumulation of last sixteen trading sessions. It surpassed the hurdle of 95 zones and registered highest daily close of last twenty one weeks. It is trading above all the moving averages and is now showing the potential to move towards 102 and higher levels. One can buy the stock with stop loss of Rs 93 for the upside target of Rs 102 levels.
ASIAN PAINTS: BUY
STOP LOSS: Rs 865
TARGET: Rs 930
It is moving after consolidation of last 15 trading sessions with rising trading volumes and registered a high of last nineteen weeks. It is holding the gains even when the market volatility and hovering near the life time high territory. It is taking support at its 13 DMA and now a move towards new lifetime high cannot be ruled out. One can buy the stock with stop loss of Rs 865 for the upside target of Rs 930 levels.
ASHOK LEYLAND: BUY
STOP LOSS: Rs 89
TARGET: Rs 97
It has been continuously trading in momentum from last three trading sessions and is giving gap up opening even after selling pressure being witnessed in the broader market. It crossed the hurdle of 91.50 levels and is holding its long term positive stance. Thus recommending to buy the stock with the stop loss of Rs 89 for the upside immediate target of Rs 97 levels.
BANK OF BARODA: SELL
STOP LOSS: Rs 154
TARGET: Rs 145
It has been making lower top – lower bottom formation on daily, weekly and monthly chart. It is under the bear grip and not ready to witness any bounce back move. It has failed to surpass immediate hurdle of 160 zones and broke its support of 150 levels. One can sell the stock with stop loss of Rs 154 for the downside target of Rs 145 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
STOP LOSS: Rs 93
TARGET: Rs 102
It has given a consolidation breakout after the accumulation of last sixteen trading sessions. It surpassed the hurdle of 95 zones and registered highest daily close of last twenty one weeks. It is trading above all the moving averages and is now showing the potential to move towards 102 and higher levels. One can buy the stock with stop loss of Rs 93 for the upside target of Rs 102 levels.
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ASIAN PAINTS: BUY
STOP LOSS: Rs 865
TARGET: Rs 930
It is moving after consolidation of last 15 trading sessions with rising trading volumes and registered a high of last nineteen weeks. It is holding the gains even when the market volatility and hovering near the life time high territory. It is taking support at its 13 DMA and now a move towards new lifetime high cannot be ruled out. One can buy the stock with stop loss of Rs 865 for the upside target of Rs 930 levels.
ASHOK LEYLAND: BUY
STOP LOSS: Rs 89
TARGET: Rs 97
It has been continuously trading in momentum from last three trading sessions and is giving gap up opening even after selling pressure being witnessed in the broader market. It crossed the hurdle of 91.50 levels and is holding its long term positive stance. Thus recommending to buy the stock with the stop loss of Rs 89 for the upside immediate target of Rs 97 levels.
BANK OF BARODA: SELL
STOP LOSS: Rs 154
TARGET: Rs 145
It has been making lower top – lower bottom formation on daily, weekly and monthly chart. It is under the bear grip and not ready to witness any bounce back move. It has failed to surpass immediate hurdle of 160 zones and broke its support of 150 levels. One can sell the stock with stop loss of Rs 154 for the downside target of Rs 145 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