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COX & KINGS: BUY
TARGET: Rs 168
STOP LOSS: Rs 155
The stock gave early sign of recovery from the lower levels after the fall it witnessed from Rs 234 to Rs 140 levels. It is turning from the multiple supports near the oversold territory and snapped the losses of previous five trading sessions. It is moving with rising volumes and also looks attractive in terms of risk reward ratio. Thus, recommending buying the stock with the stop loss of Rs 155 for the upside target of Rs 168 levels.
DHFL: BUY
TARGET: Rs 165
STOP LOSS: Rs 153
The stock has taken support at its 200 weekly moving average and rising from last three trading sessions. It is showing the potential to move higher as it finally closed positive in the previous week after the consecutive negative close of last seven weeks and formed a dragon fly DOJI. Thus, giving an early sign of trend reversal. One can buy the stock with stop loss of Rs 153 for the upside target of 165 levels.
IRB INFRA: BUY
TARGET: Rs 232
STOP LOSS: Rs 215
It has been consolidating in a broader range Rs 197 to Rs 275 levels from last one year and the support is intact even after the volatility in the broader market. It has turned from the lower band of the trading range and edged above its hurdle of Rs 223 levels. It gave the highest daily close of last fourteen trading sessions with built-up of long position. Thus recommending buying the stock with the stop loss of Rs 215 for the upside target of Rs 232 levels.
SIEMENS: BUY
TARGET: Rs 1065
STOP LOSS: Rs 999
The stock has been consolidating from last seven weeks and holding the support base even after the volatile swing in the broader market. It crossed and closed above the hurdle of Rs 1020 levels led by short covering activities. In last five weeks it has taken multiple support at Rs 970 zones and moving after a correction of last three month, thus also looks attractive in terms of risk reward ratio. Traders can buy the stock with the stop loss of Rs 999 for the upside target of Rs 1065 levels.
Disclaimer : We are suggesting all these stocks to our clients but no personal holdings.
Chandan Taparia is a technical analyst with Anand Rathi
