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Here are a few stock recommendations from Chandan Taparia of Anand Rathi Retail Research
BPCL - BUY
SL-Rs 853
TGT-Rs 910
The stock has crossed its immediate hurdle of Rs 880-885 zones after the consolidation of the last five trading sessions and is now well placed to head towards its recent highs. It had corrected by 18% from Rs 979 to Rs 802 levels and after that was stuck in a consolidation phase in the previous week. We are recommending buying the stock with a stop loss of Rs 853 for an upside target of Rs 910.
LUPIN - BUY
SL-Rs 1,868
TGT-Rs 1,990
The stock has been making higher top – higher bottom formation and holding the gains firmly even after volatility in the broader markets. It is holding above 13 EMA and moving higher with rising trading volumes. It had corrected from Rs 1,970 to Rs 1,590 levels in the month of July and is moving after forming a base at its multiple support levels around Rs 1590-1595 levels. It gave the highest daily close of the last thirty trading sessions; thus recommending buying the stock with a stop loss of Rs 1,868 for an upside target of Rs 1,990.
HINDUSTAN UNILEVER - BUY
SL-Rs 838
TGT-Rs 890
The stock is moving in the consolidation and holding the support base strongly, which is shifting to higher levels even after a decline in the broader market. It is trading in a range from last couple of series and with buying near the lower band of the trading range, it is showing a potential to move towards Rs 890 and higher levels of the trading range. Thus, traders can buy the stock with a stop loss of Rs 838 for a immediate target of Rs 890.
ACC - SELL
SL-Rs 1,387
TGT-Rs 1,306
The stock has been continuously witnessing selling pressure from the last six series and making lower top – lower bottom formation. Recently, it tried to bounce back towards Rs 1,450-1,460 levels, but failed to sustain it and bears pulled the counter again in the negative territory towards the yearly lows. The shorts are intact on the counter, indicating further weakness. We are thus recommending selling the stock with a stop loss of Rs 1,387 for a downside target of Rs 1,306.
Disclaimer : We are suggesting all these stocks to our clients but no personal holdings.
Chandan Taparia is a technical analyst with Anand Rathi Retail Research
