 "Trading calls from Chandan Taparia")
BHARAT PETROLEUM CORPORATION: BUY
Target: Rs 910
Stop Loss: Rs 845
It is holding the gains even after the market volatility and set to see the next round of momentum after the recent consolidation of last seven trading sessions. It has formed a bottom process on daily chart and also taken support at rising trend line. Thus traders can buy the stock with stop loss of Rs 845 for the upside target of Rs 910 levels.
INDIABULLS HOUSING FINANCE: BUY
Target : Rs 765
Stop Loss: Rs 704
It has negated the negative pattern of last five trading session of making lower lows. It has also engulfed the weakness and by forming a bullish reversal candle on daily chart. It has taken support at its 50 DMA and now showing the potential to snap the losses it made recently and take the stock towards Rs 750 and higher levels. Thus traders can buy the stock with stop loss of Rs 704 for the upside target of Rs 765 levels.
LUPIN: BUY
Target: Rs 2000
Stop Loss: Rs 1,877
It has seen a strong up move and crossed its immediate hurdle of Rs 1915 zones. It has also given a highest daily close in last 15 sessions and looks strong to continue the momentum towards Rs 2000 levels. It is defensive as well as a strong counter which is continuously holding the support with built up of long position. Thus recommending buying the stock with the stop loss of Rs 1877 for the upside target of Rs 2000 levels.
ADANI PORTS: SELL
Target: Rs 305
Stop Loss: Rs 325
In the last week it failed to cross a strong hurdle of Rs 350 zones and falling down from last three sessions with built up of short position. It has given a lowest closing in last 2 months and also closed below immediate support of Rs 320 and Rs 314 levels. We are expecting this weakness to continue for next coming sessions. So one can sell the stock with the stop loss of Rs 325 for the downside target of Rs 305 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
Target: Rs 910
Stop Loss: Rs 845
It is holding the gains even after the market volatility and set to see the next round of momentum after the recent consolidation of last seven trading sessions. It has formed a bottom process on daily chart and also taken support at rising trend line. Thus traders can buy the stock with stop loss of Rs 845 for the upside target of Rs 910 levels.
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INDIABULLS HOUSING FINANCE: BUY
Target : Rs 765
Stop Loss: Rs 704
It has negated the negative pattern of last five trading session of making lower lows. It has also engulfed the weakness and by forming a bullish reversal candle on daily chart. It has taken support at its 50 DMA and now showing the potential to snap the losses it made recently and take the stock towards Rs 750 and higher levels. Thus traders can buy the stock with stop loss of Rs 704 for the upside target of Rs 765 levels.
LUPIN: BUY
Target: Rs 2000
Stop Loss: Rs 1,877
It has seen a strong up move and crossed its immediate hurdle of Rs 1915 zones. It has also given a highest daily close in last 15 sessions and looks strong to continue the momentum towards Rs 2000 levels. It is defensive as well as a strong counter which is continuously holding the support with built up of long position. Thus recommending buying the stock with the stop loss of Rs 1877 for the upside target of Rs 2000 levels.
ADANI PORTS: SELL
Target: Rs 305
Stop Loss: Rs 325
In the last week it failed to cross a strong hurdle of Rs 350 zones and falling down from last three sessions with built up of short position. It has given a lowest closing in last 2 months and also closed below immediate support of Rs 320 and Rs 314 levels. We are expecting this weakness to continue for next coming sessions. So one can sell the stock with the stop loss of Rs 325 for the downside target of Rs 305 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