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SRF: BUY
Target: Rs 1,320
Stop Loss: Rs 1,212
It is holding the gains and its trend is intact to positive as it is continuously taking support at its rising support trend line. It edged higher from its consolidation of last seven weeks and closed above its 50 DMA with significant rise in trading volumes. Thus recommending the traders to buy the stock with the stop loss Rs 1212 for the upside immediate target of Rs 1320 levels.
RSWM: BUY
Target: Rs 320
Stop Loss: Rs 290
It has formed multiple bottoms near to Rs 260-264 zones and now set to start an up move after the long consolidation of last 5 weeks. Earlier it corrected from Rs 411 to 262 zones and now moving upwards after a accumulation so looks strong even in terms of risk reward ratio. Thus recommending the traders to buy the stock with the stop loss Rs 290 for the upside immediate target of Rs 320 levels.
CENTURY TEXTILES: BUY
Target: Rs 574
Stop Loss: Rs 536
It has formed a bullish pattern and is turning from the lower levels after taking multiple supports at 488-490 levels. It managed to hold the support base with significant rise in trading volumes. Thus showing the potential to move towards Rs 574 and higher levels. So, traders are recommended to buy the stock to get the benefit of attractive risk reward ratio with the stop loss of Rs 536 for the upside target of Rs 574 levels.
JSW ENERGY: SELL
Target: Rs 84
Stop Loss: Rs 92
It failed to cross the hurdle of Rs 92 levels. Although it is trading in a range from last four trading session but added built up of short position and holding below Rs 89 it may negate its immediate momentum and push the stock towards its next support of Rs 84 and 82 levels. Thus recommending selling the stock with the stop loss of Rs 92 for the downside target of Rs 84 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
