Business Standard

Buy Jain Irrigation and Cholamandalam Investment & Finance: HDFC Securities

Buy Jain Irrigation between 109 and 106, for the target of 123, keeping SL at 102.

Devarsh Vakil & Vinay Rajani  |  New Delhi 

Volatility is the new normal for Indian equities

Top trading ideas by technical analysts (PCG desk) at HDFC Securities:
 
Buy Jain Irrigation

CMP: Rs 109.35
STOP LOSS: Rs 102
TARGET: Rs 123
 
Stock has been forming higher top and higher bottom on the charts. Stock price is currently trading above its 10, 20, 100 and 200 DMA, indicating short to medium term bullish trend.  Oscillators like MACD and DMI on the short to medium term charts have been showing strength. On the derivative front stock has seen long buildup in the current July series. Considering the technical evidences discussed above we recommend buying the stock between 109 and 106, for the target of 123, keeping SL at 102.
 
Buy
CMP: Rs 1,153.30
STOP LOSS: Rs 1,120
TARGET: Rs 1,215
 
Primary trend of the stock is bullish with higher tops and bottoms on weekly and monthly chart. Short term moving averages are trading above long term moving averages indicating bullish momentum in the stock. Oscillators showing sign of strength on medium to long term chart. NBFC as sector has been outperforming last couple of quarters. Considering the technical evidences discussed above we recommend buying the stock between 1153.30 and 1135, for the target of 1215, keeping SL at 1120.
 
Disclaimer: The analyst may have positions in any or all the stocks mentioned above.

First Published: Wed, July 26 2017. 08:15 IST
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