 "Trading strategies from Chandan Taparia of Anand Rathi")
LICHSGFIN: BUY
Target: Rs 477
Stop Loss: Rs 440
COX & KINGS: BUY
Target: Rs 177
Stop Loss: Rs 165
The stock has taken multiple support on its daily, weekly and monthly chart and has formed an attractive price pattern. It has formed double bottom pattern on daily chart and is also turning from the oversold territory. It gave the highest daily close of last seventeen trading sessions and is moving after the consolidation of last three weeks. So, recommending to buy the stock with the stop loss of Rs 165 for the upside immediate target of Rs 177 levels.
ARVIND: BUY
Target: Rs 281
Stop Loss: Rs 264
The stock has taken multiple support near its Rs 235-237 zones and has formed an attractive price pattern. It is rising from last six trading sessions and a further up move led by short covering activities may be seen in the counter. It has given a price volume breakout from its falling supply trend line. So, recommending to buy the stock with the stop loss of Rs 264 for the upside immediate target of Rs 281 levels.
BPCL: BUY
Target: Rs 780
Stop Loss: Rs 830
The stock failed to sustain above its 828-830 levels after the recovery of last ten trading sessions and negated the hopes of recovery in the stock. It is turning from the resistance levels and shorts are being active in the counter. At its current price juncture it has formed a short term negative pattern and a further decline towards Rs 780 and lower levels cannot be ruled out. One can sell the stock with stop loss of Rs 830 for the downside target of Rs 780 levels.
Disclaimer : We are suggesting all these stocks to our clients but no personal holdings.
Chandan Taparia is a technical analyst with Anand Rathi.
Target: Rs 477
Stop Loss: Rs 440
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The stock edged above its consolidation of last four trading sessions and gave the highest daily close of last twenty five trading sessions. It is taking support at its 50 DMA from last four sessions and crossed its 200 DMA. It crossed the hurdle of 50% Fibonacci retracement levels and now according to the current price placement of the stock it is set to continue the positive move towards Rs 477 and higher levels. So, recommending to buy the stock on decline with the stop loss of Rs 440 for the upside immediate target of Rs 477 levels.
COX & KINGS: BUY
Target: Rs 177
Stop Loss: Rs 165
The stock has taken multiple support on its daily, weekly and monthly chart and has formed an attractive price pattern. It has formed double bottom pattern on daily chart and is also turning from the oversold territory. It gave the highest daily close of last seventeen trading sessions and is moving after the consolidation of last three weeks. So, recommending to buy the stock with the stop loss of Rs 165 for the upside immediate target of Rs 177 levels.
ARVIND: BUY
Target: Rs 281
Stop Loss: Rs 264
The stock has taken multiple support near its Rs 235-237 zones and has formed an attractive price pattern. It is rising from last six trading sessions and a further up move led by short covering activities may be seen in the counter. It has given a price volume breakout from its falling supply trend line. So, recommending to buy the stock with the stop loss of Rs 264 for the upside immediate target of Rs 281 levels.
BPCL: BUY
Target: Rs 780
Stop Loss: Rs 830
The stock failed to sustain above its 828-830 levels after the recovery of last ten trading sessions and negated the hopes of recovery in the stock. It is turning from the resistance levels and shorts are being active in the counter. At its current price juncture it has formed a short term negative pattern and a further decline towards Rs 780 and lower levels cannot be ruled out. One can sell the stock with stop loss of Rs 830 for the downside target of Rs 780 levels.
Disclaimer : We are suggesting all these stocks to our clients but no personal holdings.
Chandan Taparia is a technical analyst with Anand Rathi.