 "Top trading ideas from Chandan Taparia of Anand Rathi")
LIC HOUSING FINANCE : BUY
Stop Loss: Rs 455
Target: Rs 488
It has recently taken support near to 450-452 zones and managed to cross immediate hurdle of 465 after a consolidation of last six trading sessions. Major trend of the stock is positive and it is holding the gains even after the weakness of broader market in last two weeks. It has given highest daily close in last eight trading sessions above its 50 DMA which also indicates an inherit strength in the counter.
Stop Loss: Rs 455
Target: Rs 488
It has recently taken support near to 450-452 zones and managed to cross immediate hurdle of 465 after a consolidation of last six trading sessions. Major trend of the stock is positive and it is holding the gains even after the weakness of broader market in last two weeks. It has given highest daily close in last eight trading sessions above its 50 DMA which also indicates an inherit strength in the counter.
ZEE ENTERTAINMENT: BUY
Stop Loss: Rs 390
Target: Rs 420
It has been holding the immediate support of 395 zones from last three weeks and showing resilience at the time of market fall which gives an early sign of up move in the stock in next coming sessions. It has closed above immediate hurdle of 402-404 zones and holding the same may witness fresh buying towards 420 and 425 zones.
Stop Loss: Rs 390
Target: Rs 420
It has been holding the immediate support of 395 zones from last three weeks and showing resilience at the time of market fall which gives an early sign of up move in the stock in next coming sessions. It has closed above immediate hurdle of 402-404 zones and holding the same may witness fresh buying towards 420 and 425 zones.
MARUTI SUZUKI: BUY
Stop Loss: Rs 4,440
Target: Rs 4,680
The stock has turned near to the lower band of the recent trading range and also respected to 4420 zones in last two sessions. Major trend of the stock is positive and the recent correction makes it more attractive in terms of risk reward ratio. It has seen fresh built up of long position as open interest added with positive price action.
Stop Loss: Rs 4,440
Target: Rs 4,680
The stock has turned near to the lower band of the recent trading range and also respected to 4420 zones in last two sessions. Major trend of the stock is positive and the recent correction makes it more attractive in terms of risk reward ratio. It has seen fresh built up of long position as open interest added with positive price action.
SYNDICATE BANK: SELL
Stop Loss: Rs 90
Target: Rs 84
It is continuously falling from last nine trading sessions and is not ready to witness meaningful recovery near the major support zones. It has recently broken its weekly support of 87 zones and now this cluster may continue to provide sustain selling which may cause in built up of short position. Major trend of the stock is negative and shorts are intact by rollover activities so weakness may persist in the counter for next coming sessions.
Stop Loss: Rs 90
Target: Rs 84
It is continuously falling from last nine trading sessions and is not ready to witness meaningful recovery near the major support zones. It has recently broken its weekly support of 87 zones and now this cluster may continue to provide sustain selling which may cause in built up of short position. Major trend of the stock is negative and shorts are intact by rollover activities so weakness may persist in the counter for next coming sessions.
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
