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MARUTI: BUY
Target: Rs 4,610
Stop Loss: Rs 4,345
It is holding its positive stance and consolidating in a range even after a profit booking decline in the broader market which indicates that the major trend of the stock is intact to positive. It is continuously taking support at its rising support trend line and has been respecting to its 50 DMA. It has been making higher lows from last three weeks. Thus recommending the traders to buy the stock with the stop loss at Rs 4345 for the upside immediate target of Rs 4610 levels.
DISHMAN PHARMA: BUY
Target: Rs 420
Stop Loss: Rs 375
It has given a breakout from the consolidation of last four weeks and registered seven years high levels with rise in trading volume activities. It may continue its momentum towards new territory as overall the counter is showing strength. Thus recommending to buy the stock with the stop loss Rs 375 for the upside immediate target of Rs 420 levels.
ZEEL : BUY
Target: Rs 424
Stop Loss: Rs 397
It negated the negativity of last seven trading session and ended on a positive note. It has taken support at its rising trend line and gave an early sign of reversal in short term negative trend. Overall trend of the stock is intact to positive and it is well placed to witness a bounce back towards 424 and higher levels. Thus recommending to buy the stock with the stop loss of Rs 397 for the upside immediate target of Rs 424 levels.
VEDANTA: BUY
Target: Rs 92.50
Stop Loss: Rs 103
It has broken the immediate support of 100 zones and it started to decline with liquidation of long position. The stock has dull price behavior and witnesses selling pressure at every small bounce back. It has been making lower highs - lower lows formation from last three weeks. So, one can sell the stock with the stop loss of Rs 103 for the downside target of Rs 92.50 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
