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BUY ZEE Entertainment Enterprises : It has crossed its immediate hurdle of Rs 377 - Rs 380 zones after the consolidation of last four trading sessions and now well placed to head towards its recent highs of Rs 420 zones. It had corrected by 18% from Rs 421 to Rs 346 levels and after that was stuck in a consolidation in previous week. We are recommending to buy the stock with the stop loss of Rs 374 levels for the upside target of Rs 402 levels.
BUY ADANI PORTS : It has been making higher top – higher bottom formation on daily, weekly and monthly chart. It has managed to sustain it positive trend even after sharp decline in market and has been making higher highs – higher lows from last four trading sessions and holding well above its 13 and 35 DMA. Thus we are recommending to buy the stock with the stop loss of Rs 350 levels for the upside target of Rs 375 levels.
BUY AUROBINDO PHARMA : It has managed to hold its gain in the last series even after the weakness in broader market. Recently it fell down towards Rs 645 zones but recovered sharply and well placed to see next round of momentum. It is quite strong and holding the support base with fresh built up of long position. One can buy with stop loss of Rs 735 for upside target of Rs 778 levels.
SELL CESC: It is witnessing built up of short position which indicates that bears are taking grip on the counter. It has broken the support of 568 and making a negative price pattern so a possibility of correction cannot be ruled out as it has marked multiple hurdles at higher levels. It has been witnessing weakness from last thirteen series. Thus traders can sell the stock with stop loss of Rs 546 for the downside target of Rs 514 levels.
Disclaimer : We are suggesting all these stocks to our clients but no personal holdings.
Chandan Taparia is a Derivatives Analyst - Equity Research with Anand Rathi
