 "Trading ideas from Anand Rathi; buy Welspun India, DHFL")
WELSPUN INDIA: BUY
STOP LOSS: Rs 93.50
TARGET: Rs 101
The stock is gradually rising from last four trading session after taking support around 90 zones. In the previous week it had witnessed a profit taking from Rs 105 to Rs 90 zones and now it again started to move after taking support at the lower band of the recent trading range.
STOP LOSS: Rs 93.50
TARGET: Rs 101
The stock is gradually rising from last four trading session after taking support around 90 zones. In the previous week it had witnessed a profit taking from Rs 105 to Rs 90 zones and now it again started to move after taking support at the lower band of the recent trading range.
TATA ELXSI: BUY
STOP LOSS: Rs 1,838
TARGET: Rs 1,955
The stock is moving after immediate consolidation of last 6-7 trading sessions with rising volumes. It gave the highest daily close of last eight trading sessions and reclaimed its Rs 1,900 zones. At the current price juncture it is well placed to give an upside move led by strong buying towards Rs 1,955 and higher levels.
STOP LOSS: Rs 1,838
TARGET: Rs 1,955
The stock is moving after immediate consolidation of last 6-7 trading sessions with rising volumes. It gave the highest daily close of last eight trading sessions and reclaimed its Rs 1,900 zones. At the current price juncture it is well placed to give an upside move led by strong buying towards Rs 1,955 and higher levels.
DHFL: BUY
STOP LOSS: Rs 197
TARGET: Rs 212
The stock gave breakout from its falling supply trend line and moved higher to end the session with the highest daily close of last 10 trading sessions. It has formed an attractive price pattern and witnessed built up of long position with an open interest addition of around 9% in previous session.
STOP LOSS: Rs 197
TARGET: Rs 212
The stock gave breakout from its falling supply trend line and moved higher to end the session with the highest daily close of last 10 trading sessions. It has formed an attractive price pattern and witnessed built up of long position with an open interest addition of around 9% in previous session.
ORIENTAL BANK: SELL
STOP LOSS: Rs 89
TARGET: Rs 81.50
The stock has been continuously trading in weakness and has a tendency of witnessing selling at every minor attempt to bounce. It is falling from last three weeks as it failed to sustain the higher levels and started witnessing selling liquidation of long position with fresh built up of short position.
STOP LOSS: Rs 89
TARGET: Rs 81.50
The stock has been continuously trading in weakness and has a tendency of witnessing selling at every minor attempt to bounce. It is falling from last three weeks as it failed to sustain the higher levels and started witnessing selling liquidation of long position with fresh built up of short position.
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