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SINTEX: BUY
TARGET: Rs 107
STOP LOSS: Rs 94.50
It has been making higher top- higher bottom formation from last four weeks and holding the gains above 50 DMA. It is also making higher lows from last four consecutive weeks and support base is continuously shifting to higher levels with significant rise in trading volumes. So we are recommending to buy the stock with stop loss of Rs 94.50 for the upside immediate target of Rs 107 levels.
RALLIS INDIA: BUY
TARGET: Rs 235
STOP LOSS: Rs 213
It has taken multiple support at Rs 203-205 zones and is turning from the lower band of the trading range and making higher highs from last two weeks. It has given highest daily close in last twenty trading sessions and looks attractive as per price behavior to move towards Rs 235 and higher levels. Thus traders can buy the stock with stop loss of Rs 213 for the upside immediate target of Rs 235 levels.
TARGET: Rs 235
STOP LOSS: Rs 213
It has taken multiple support at Rs 203-205 zones and is turning from the lower band of the trading range and making higher highs from last two weeks. It has given highest daily close in last twenty trading sessions and looks attractive as per price behavior to move towards Rs 235 and higher levels. Thus traders can buy the stock with stop loss of Rs 213 for the upside immediate target of Rs 235 levels.
ONGC: BUY
TARGET: Rs 245
STOP LOSS: Rs 230
It has taken support near to 52 weeks lows of Rs 220-222 zones and turning from the major support after the weakness of last four weeks. It has formed a strong bullish reversal pattern and now this move may extend towards Rs 245 and higher levels led by short covering activities. One can go long in the counter with the stop loss of Rs 230 for the upside target of Rs 245 levels.
TARGET: Rs 245
STOP LOSS: Rs 230
It has taken support near to 52 weeks lows of Rs 220-222 zones and turning from the major support after the weakness of last four weeks. It has formed a strong bullish reversal pattern and now this move may extend towards Rs 245 and higher levels led by short covering activities. One can go long in the counter with the stop loss of Rs 230 for the upside target of Rs 245 levels.
JUBILANT FOODWORKS: SELL
TARGET: Rs 1530
STOP LOSS: Rs 1530
It has been making lower highs lower lows from last two trading sessions and continuously witnessing selling pressure from last three series. Recently, it failed to cross its hurdle of Rs 1680 zones and now started to add built up of short position. Thus one can sell the stock with the stop loss of Rs 1628 for the downside target of Rs 1530 levels.
TARGET: Rs 1530
STOP LOSS: Rs 1530
It has been making lower highs lower lows from last two trading sessions and continuously witnessing selling pressure from last three series. Recently, it failed to cross its hurdle of Rs 1680 zones and now started to add built up of short position. Thus one can sell the stock with the stop loss of Rs 1628 for the downside target of Rs 1530 levels.
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
Chandan Taparia is a technical analyst with Anand Rathi Retail Research
