 "Top trading ideas from Chandan Taparia of Anand Rathi")
Here are a few trading ideas from Chandan Taparia of Anand Rathi for trade today:
GATEWAY DISTRIPARKS: BUY
Target: Rs 295
The stock is making higher top – higher bottom formation on daily and weekly chart and is holding the gains above its 50 DMA. It gave the highest daily close of last twelve sessions and its support is shifting higher. Thus one can buy the stock with the stop of Rs 278 for the upside immediate target of Rs 295 levels.
POWERGRID: BUY
Target: Rs 149
Stop Loss: Rs 139
The stock is gradually rising after taking support around its 50 day exponential moving average. It crossed immediate supply trend line and also surpassed its hurdle of Rs 144 levels. At the current price juncture it is well placed to start fresh rally led by buying interest towards Rs 149 and higher levels. One can buy the stock with the stop loss of Rs 139 for the upside target of Rs 149 levels.
INFOSYS: BUY
Target: Rs 1241
Stop Loss: Rs 1170
The stock holding the gains and is gradually rising after witnessing buying interest at the lower levels. The support is shifting in the stock to higher levels as earlier it was taking support around Rs 1150 then Rs 1170 and now Rs 1195 zones. Fresh longs are seen entering the counter so an up move towards Rs 1241 cannot be ruled out. Thus one can buy the stock with the stop of Rs 1170 for the upside immediate target of Rs 1241 levels.
ONGC: SELL
Target: Rs 200
Stop Loss: Rs 212
The stock has been making lower top –lower bottom formation from last 12 sessions and fell below its April series low levels. It has been continuously witnessing selling from last two weeks as it failed to sustain above its Rs 220 levels. It is witnessing built up of short position and has a tendency of witnessing selling at every minor attempt to bounce. Thus the overall trend of the stock is intact to negative. One can sell the stock with the stop loss of Rs 212 for the downside immediate target of Rs 200 levels.
Disclaimer : We are suggesting all these stocks to our clients but no personal holdings.
Chandan Taparia is a Derivatives Analyst - Equity Research at Anand Rathi
GATEWAY DISTRIPARKS: BUY
Target: Rs 295
Also Read
Stop Loss: 278
The stock is making higher top – higher bottom formation on daily and weekly chart and is holding the gains above its 50 DMA. It gave the highest daily close of last twelve sessions and its support is shifting higher. Thus one can buy the stock with the stop of Rs 278 for the upside immediate target of Rs 295 levels.
POWERGRID: BUY
Target: Rs 149
Stop Loss: Rs 139
The stock is gradually rising after taking support around its 50 day exponential moving average. It crossed immediate supply trend line and also surpassed its hurdle of Rs 144 levels. At the current price juncture it is well placed to start fresh rally led by buying interest towards Rs 149 and higher levels. One can buy the stock with the stop loss of Rs 139 for the upside target of Rs 149 levels.
INFOSYS: BUY
Target: Rs 1241
Stop Loss: Rs 1170
The stock holding the gains and is gradually rising after witnessing buying interest at the lower levels. The support is shifting in the stock to higher levels as earlier it was taking support around Rs 1150 then Rs 1170 and now Rs 1195 zones. Fresh longs are seen entering the counter so an up move towards Rs 1241 cannot be ruled out. Thus one can buy the stock with the stop of Rs 1170 for the upside immediate target of Rs 1241 levels.
ONGC: SELL
Target: Rs 200
Stop Loss: Rs 212
The stock has been making lower top –lower bottom formation from last 12 sessions and fell below its April series low levels. It has been continuously witnessing selling from last two weeks as it failed to sustain above its Rs 220 levels. It is witnessing built up of short position and has a tendency of witnessing selling at every minor attempt to bounce. Thus the overall trend of the stock is intact to negative. One can sell the stock with the stop loss of Rs 212 for the downside immediate target of Rs 200 levels.
Disclaimer : We are suggesting all these stocks to our clients but no personal holdings.
Chandan Taparia is a Derivatives Analyst - Equity Research at Anand Rathi