Chart Check: Coal India, Voltas, Marico, Motherson Sumi

Here are a few trading ideas from Chandan Taparia of Anand Rathi for trade today:


COAL INDIA : BUY

Target: Rs 330

Stop Loss: Rs 311

The stock has managed to cross its immediate hurdle of Rs 318-319 zones and witnessed a fresh breakout. It has been holding the gains and trading above 50 DMA which also has a bullish implication. It has seen huge accumulation as is has taken multiple support near to Rs 305-307 zone sin last four week. One can  buy the stock with stop loss of Rs 311 for the upside target of Rs 330 levels.

 

VOLTAS : BUY

Target: Rs 332

Stop Loss: Rs 315

The stock has been holding the gains from last two weeks and respecting to its 5o DMA from last five trading sessions. It has made a positive price pattern on smaller degree chart which may extend its immediate up swing. It has managed to cross its immediate hurdle of Rs 324 levels which may also support for the fresh buying activities. One can buy the stock with stop loss of Rs 315 for the upside immediate target of Rs 332 levels.

 

MARICO : BUY

Target: Rs 277

Stop Loss: Rs 260

It has seen sustained buying interest for most part of the last trading session and registered a new life time high levels. It has been moving upwards and longs are also shifting to series to series. It has seen fresh built up of long position and fresh move may be seen as it is trading at uncharted territory. One can  buy the stock on a small decline with stop loss of Rs 260 for the upside target of Rs 277 levels.

 

MOTHERSON SUMI : SELL

Target: Rs 281

Stop Loss: 297


The stock has failed to surpass its immediate hurdle of Rs 295 zones and started to decline after the bounce back of previous six trading sessions. It is near to multiple hurdle and fresh shorts are also being added which may drag the stock to lower levels. One can sell the stock with stop loss of Rs 297 for the downside target of Rs 281 levels.

 

Disclaimer: We are suggesting these stocks to our clients but no personal holdings

 

Chandan Taparia is a Derivatives Analyst - Equity Research at Anand Rathi