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SCHNIEDER: BUY
STOP LOSS: Rs 166
TARGET: Rs 182
It surpassed an immediate hurdle of 173 zones after the struggle of last twenty three trading sessions and ended the day at the highest daily close of last thirty four trading sessions. It has been taking support at its 50 DMA and holding the support even base even after the volatility swing being witnessed in the broader market. One can buy the stock with stop loss of 166 for the upside target of 182 levels.
DISH TV: BUY
STOP LOSS: Rs 98
TARGET: Rs107
It has been making higher highs – higher lows from last three weeks and surpassed its 50 DMA. It registered a smart V- shaped recovery and reclaimed its 100 levels. It negated the negativity witnessed in the first two weeks of December. One can buy the stock with stop loss of 98 for the upside target of 107 levels.
M&M: SELL
STOP LOSS:Rs 1272
TARGET: Rs 1195
It failed to cross immediate hurdle of 1285 levels and broke its support of 1245 levels. It was trading in a range and now witnessing liquidation of long followed by fresh short position. We are expecting this weak structure to continue for next coming sessions towards 1195 and lower levels. Thus, recommending selling the stock on bounce back move with the stop loss of 1272 for the downside target of 1195 levels.
JUBLIANT FOOD: SELL
STOP LOSS:Rs 1488
TARGET: Rs 1400
It has been making lower top – lower bottom formation from last eight trading sessions. It has been continuously trading in weakness and witnesses selling pressure at every minor attempt to bounce back. It has been witnessing built up of short position and these shorts are intact in the counter. Thus, recommending selling the stock on bounce back move with the stop loss of 1488 for the downside target of 1400 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
