Top trading ideas by Ajit Mishra: Buy Asian Paints, IDFC First Bank

The overall chart pattern of Asian Paints indicates that the prevailing momentum is likely to continue

Buy Asian Paints Limited

Last Close: Rs 2,914.40

Initiation range: Rs 2,900-2,910

Target: Rs 3,020

Stop loss: Rs 2,840

Rationale: Asian Paints has witnessed a fresh breakout from the pennant pattern (indicates a pause after a sharp surge) and made a new record high as well. The overall chart pattern indicates that the prevailing momentum is likely to continue. Traders shouldn’t miss the opportunity and create fresh longs in the mentioned zone.

Buy Dr. Reddy's Laboratories Limited

Last Close: Rs 5,311.20

Initiation range: Rs 5,300-5,310

Target: Rs 5,490

Stop loss: Rs 5,185

Rationale: Most pharma stocks are consolidating in a