 "Trading ideas from Chandan Taparia of Anand Rathi")
BUY SIEMENS
STOP LOSS: Rs 989
TARGET: Rs 1055
The stock has been consolidating from last three weeks and holding the support base even after the volatile swing in the broader market. It is turning from the lower levels and is showing the potential to move higher with built up of long position thus looks attractive in terms of risk reward ratio. Thus recommending buying the stock with the stop loss of Rs 989 for the upside target of Rs 1055 levels.
STOP LOSS: Rs 914
TARGET: Rs 975
The stock recently took support at its 200 weekly moving average after the fall from 1089 to 888 levels. It crossed its 50 weekly moving average and held onto the support base even after the volatility swing witnessed in the broader market. It turned from the oversold territory and according to the current price placement of the stock it looks attractive to move towards 975 and higher levels. Thus recommending buying the stock with the stop loss of Rs 914 for the upside target of Rs 975 levels.
BUY SKS MICROFINANCE
STOP LOSS: Rs 488
TARGET: Rs 522
The stock is rising in upward channel with support base shifting to higher levels. It is turning from the lower levels of the rising channel. It is witnessing built up of long from last four trading session with an open interest addition of around 16%. Maximum put OI is at 500 strike which will keep the downside capped. Thus recommending buying the stock with the stop loss of Rs 488 for the upside target of Rs 522 levels.
SELL UPL
STOP LOSS: Rs 415
TARGET: Rs 390
The stock failed to cross the immediate hurdle of 415 levels and is continuously making lower top – lower bottom price formation from last eight series. It witnesses selling pressure at every minor attempt to bounce back with built up of short position. It has been finding hurdle at every resistance levels and medium trend of the stock has turned to negative. One can sell the stock with stop loss of Rs 415 for the downside target of Rs 390 levels.
Disclaimer : We are suggesting all these stocks to our clients but no personal holdings.
Chandan Taparia is technical analyst with Anand Rathi.
STOP LOSS: Rs 989
TARGET: Rs 1055
The stock has been consolidating from last three weeks and holding the support base even after the volatile swing in the broader market. It is turning from the lower levels and is showing the potential to move higher with built up of long position thus looks attractive in terms of risk reward ratio. Thus recommending buying the stock with the stop loss of Rs 989 for the upside target of Rs 1055 levels.
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BUY RELIANCE INDUSTRIES
STOP LOSS: Rs 914
TARGET: Rs 975
The stock recently took support at its 200 weekly moving average after the fall from 1089 to 888 levels. It crossed its 50 weekly moving average and held onto the support base even after the volatility swing witnessed in the broader market. It turned from the oversold territory and according to the current price placement of the stock it looks attractive to move towards 975 and higher levels. Thus recommending buying the stock with the stop loss of Rs 914 for the upside target of Rs 975 levels.
BUY SKS MICROFINANCE
STOP LOSS: Rs 488
TARGET: Rs 522
The stock is rising in upward channel with support base shifting to higher levels. It is turning from the lower levels of the rising channel. It is witnessing built up of long from last four trading session with an open interest addition of around 16%. Maximum put OI is at 500 strike which will keep the downside capped. Thus recommending buying the stock with the stop loss of Rs 488 for the upside target of Rs 522 levels.
SELL UPL
STOP LOSS: Rs 415
TARGET: Rs 390
The stock failed to cross the immediate hurdle of 415 levels and is continuously making lower top – lower bottom price formation from last eight series. It witnesses selling pressure at every minor attempt to bounce back with built up of short position. It has been finding hurdle at every resistance levels and medium trend of the stock has turned to negative. One can sell the stock with stop loss of Rs 415 for the downside target of Rs 390 levels.
Disclaimer : We are suggesting all these stocks to our clients but no personal holdings.
Chandan Taparia is technical analyst with Anand Rathi.