Here are a few stock trading recommendations from Anand Rathi Research for today:
HINDUSTAN UNILEVER: BUY
STOP LOSS: Rs 848
Also Read
It is moving after the consolidation of last six trading sessions and crossed its immediate hurdle of 880 zones. It has managed to hold its support base even after weakness in the broader market. Thus indicating that buying interest may continue in the counter towards 901 and higher levels. So we are recommending to buy the stock with stop loss of 848 levels for the immediate upside target of 901 levels.
BAJAJ CORP: BUY
STOP LOSS: Rs 482
TARGET: Rs 514
It is hovering near the lifetime high levels and is moving after retracing the weakness of April and May months. It gave the highest daily close above its 50, 35 and 200 DMA even after decline in the broader market. So we are recommending buying the stock with stop loss of 482 levels for the immediate upside target of 514 levels.
BAJAJ AUTO: SELL
STOP LOSS: Rs 2,478
TARGET: Rs 2,335
It has broken the support of 2450 levels and formed a negative structure. It has been finding multiple hurdles near to 2580-2600 zones and recently it failed to cross the same levels. It has been witnessing built up of short position thus indicating further weakness in the stock. Thus one can sell the stock on small bounce back move with the stop loss of 2478 levels for the downside target of 2335 levels.
VEDANTA: SELL
STOP LOSS: Rs 100
TARGET: Rs 92
It is continuously trading in weakness from last fourteen series and witnessing selling pressure at every minor attempt to bounce back. It is trading at five years low levels and has been making lower top ? lower bottom formation. Traders can sell the stock with the stop loss of 100 levels for the downside target of 92 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