Vakrangee, Radico Khaitan: How to trade buzzing stocks of the day

Trading strategies for stocks that are buzzing at the bourses today

Vakrangee Limited (VAKRANGEE)
Likely target: Rs40.85 (after crossing and sustaining above Rs 35 levels)
Upside potential:  16%

After breaching the 200-days moving average (DMA), the stock has lost its momentum resulting in a negative crossover of 50-DMA and 200-DMA called a “Death Cross”. This signals a negative outlook from a medium-term perspective, if the counter fails to regain momentum on an immediate breach of the moving average. That said, this is the first time the Vakrangee shares have seen a surge of over 15 per cent in day trade in recent times - and that too in the oversold territory of Relative Strength Index (RSI).  It now needs to conquer Rs 35 levels and show some sustainability around it; only then only can one see the next rally that can take the stock towards Rs 40.85 levels, which also is its 50-DMA. CLICK HERE FOR THE CHART

 

Chalet Hotels Limited (CHALET)
Likely target: Rs 179.60 and Rs 200
Upside potential:  3.50% to 15%

The recent weakness has seen Chalet Hotels shares test the support of 200-DMA, placed at Rs 167.50 levels. At the current levels, one can see a revival in a positive trend that may see the stock make an attempt to cross Rs 179.60, which is its 50-DMA. Going forward, if the counter manages to uphold the support of 200-DMA, which seems likely and conquers 50-DMA, the scrip may head towards the breakout mark of Rs 200 levels. CLICK HERE FOR THE CHART
 

Radico Khaitan Limited (RADICO)
Likely target: Rs 1,100
Upside potential:  18%

Since the past couple of months, the Radico Khaitan shares have been decisively claiming new all-time highs. This shows an underlying strength in the stock that could see its entry in four-digit club soon. From a bigger timeframe, as long as the support of 50-DMA is held, placed at Rs 791 levels, the positive sentiment is likely to gain momentum. The next resistance comes in at Rs 1,100 levels.  CLICK HERE FOR THE CHART

Max Healthcare Institute Ltd (MAXHEALTH)
Likely target: Rs 350 and Rs 370
Upside potential:  10% to 15%

With “Higher High, Higher Low” formation, and a “Rising Channel pattern”, the counter is well placed to gain more ground. The immediate closing basis support comes in at Rs 300 levels. As long as the 50-DMA is held, placed at Rs 269 mark, the medium-term trend is likely to remain highly bullish and can take the stock towards Rs 350 and then Rs 370 levels, as per daily chart. CLICK HERE FOR THE CHART

Sequent Scientific Limited (SEQUENT)
Outlook: needs to fill the gap-down range

After reporting disappointing Q1FY22 results, Sequent Scientific stock witnessed a gap-down session on August 11, 2021 with a strong negative sentiment. However, it regained momentum after holding the support of 200-DMA placed at Rs 232 levels.  With Thursday's upside of 7 per cent, the counter needs to close now firm and hold on to the gains made. Until the gap-down range of Rs 276.30 to Rs 254.35 does not get filled, a positive trend in this scrip may not emerge. CLICK HERE FOR THE CHART