SINTEX: BUY
Target: Rs 80
Stop Loss: Rs 72
The stock was finding hurdle at Rs 73.50 levels which was acting as a resistance and now in the previous week the same has become the support, thus giving a perfect example of resistance becoming support. It crossed its 50 DMA and is making higher lows from last six trading sessions. It gave the highest daily close of last thirty seven trading sessions. Thus recommending to buy the stock with the stop loss of Rs 72 for the upside target of Rs 80 levels.
HAVELLS: BUY
Target: Rs 323
Stop Loss: Rs 300
The stock has been making higher top- higher bottom formation from last twenty trading sessions and holding the gains above its 200 and 50 DMA. It is also making higher highs – higher lows from last four consecutive weeks and support base in continuously shifting to higher levels with rise in trading volumes. So we are recommending to buy the stock with stop loss of Rs 300 for the upside immediate target of Rs 323 levels
LICHSGFIN: BUY
Target: Rs 505
Stop Loss: Rs 470
The stock has been making higher top-higher bottom formation and is continuously moving upside from last four weeks with support shifting to higher levels. It snapped the loss witnessed in previous series and gave the highest daily close of last fifty trading sessions. It crossed and closed above the hurdle of 480 levels with built up of long position and now it is well placed to start fresh rally towards 505 and higher levels. Thus recommending to buy the stock with the stop loss of Rs 470 for the upside target of Rs 505 levels.
KAVERI SEED: SELL
Target: Rs 362
Stop Loss: Rs 390
The stock failed to recover with recovery in the broader market and witnessed liquidation of long position. It failed to cross immediate hurdle of Rs 387 in last three trading session and gave the lowest close of last four weeks. It has a tendency of witnessing selling pressure at every resistance levels. Thus, one can sell the stock with stop loss of Rs 390 for the downside target of Rs 362 levels.
Disclaimer : We are suggesting all these stocks to our clients but no personal holdings.
Chandan Taparia is a derivative analyst with Anand Rathi.
