Business Standard

Top trading ideas for Thursday: Buy TVS Motors, Glenmark

Here are a few trading ideas from Chandan Taparia of Anand Rathi for trade today

Chandan Taparia  |  Mumbai 

Photo: Shutterstock
Photo: Shutterstock

Here are a few trading ideas from of for trade today

TVSMOTOR: The stock is moving after forming a string support near 345 zones and moved above its 50 and 20 daily moving average. It snapped the losses of previous two weeks and gave moved above its consolidation phase of last twelve trading sessions. It gave the highest daily close of last twelve trading sessions and is well place to head towards 386 and higher levels. So, one can the stock with the of Rs 360 for the upside immediate of Rs 386.

INDUSTRIES: The stock surpassed the immediate falling trend line and snapped the losses of previous week. It moved and closed above its 200 DMA and is giving the early sign of bottom formation. The mechanical indicator is also supporting our positive view in the stock and it also looks attractive in terms of risk reward ratio. So one can the stock to grab the opportunity of attractive risk reward ratio with the of Rs 375 for the upside immediate of Rs 400.

INDUSIND BANK: The stock has taken multiple supports and showing the signs of bottoming out. Fresh longs were seen entering the counter as the stock witnessed open interest addition of around 2.50% in previous session. It surpassed the immediate hurdle of 1080 levels and also looks attractive in terms of risk reward ratio. Thus recommending to the stock with the of Rs 1,053 for the upside immediate of Rs 1,121.

GLENMARK: The stock broke the support of 880 zones as failed to surpass the hurdle of 910-911 levels and started witnessed selling pressure. It has added shorts of around 12% in last trading sessions thus supporting our short term negative view in the counter.  Thus one can with the of Rs 910 for the upside immediate of Rs 856.

Disclaimer: We are suggesting these stocks to our clients but not personal holdings.
is a Derivatives Analyst - Equity Research at Anand Rathi

RECOMMENDED FOR YOU

Top trading ideas for Thursday: Buy TVS Motors, Glenmark

Here are a few trading ideas from Chandan Taparia of Anand Rathi for trade today

Here are a few trading ideas from Chandan Taparia of Anand Rathi for trade today
Here are a few trading ideas from of for trade today

TVSMOTOR: The stock is moving after forming a string support near 345 zones and moved above its 50 and 20 daily moving average. It snapped the losses of previous two weeks and gave moved above its consolidation phase of last twelve trading sessions. It gave the highest daily close of last twelve trading sessions and is well place to head towards 386 and higher levels. So, one can the stock with the of Rs 360 for the upside immediate of Rs 386.

INDUSTRIES: The stock surpassed the immediate falling trend line and snapped the losses of previous week. It moved and closed above its 200 DMA and is giving the early sign of bottom formation. The mechanical indicator is also supporting our positive view in the stock and it also looks attractive in terms of risk reward ratio. So one can the stock to grab the opportunity of attractive risk reward ratio with the of Rs 375 for the upside immediate of Rs 400.

INDUSIND BANK: The stock has taken multiple supports and showing the signs of bottoming out. Fresh longs were seen entering the counter as the stock witnessed open interest addition of around 2.50% in previous session. It surpassed the immediate hurdle of 1080 levels and also looks attractive in terms of risk reward ratio. Thus recommending to the stock with the of Rs 1,053 for the upside immediate of Rs 1,121.

GLENMARK: The stock broke the support of 880 zones as failed to surpass the hurdle of 910-911 levels and started witnessed selling pressure. It has added shorts of around 12% in last trading sessions thus supporting our short term negative view in the counter.  Thus one can with the of Rs 910 for the upside immediate of Rs 856.

Disclaimer: We are suggesting these stocks to our clients but not personal holdings.
is a Derivatives Analyst - Equity Research at Anand Rathi

image
Business Standard
177 22

Top trading ideas for Thursday: Buy TVS Motors, Glenmark

Here are a few trading ideas from Chandan Taparia of Anand Rathi for trade today

Here are a few trading ideas from of for trade today

TVSMOTOR: The stock is moving after forming a string support near 345 zones and moved above its 50 and 20 daily moving average. It snapped the losses of previous two weeks and gave moved above its consolidation phase of last twelve trading sessions. It gave the highest daily close of last twelve trading sessions and is well place to head towards 386 and higher levels. So, one can the stock with the of Rs 360 for the upside immediate of Rs 386.

INDUSTRIES: The stock surpassed the immediate falling trend line and snapped the losses of previous week. It moved and closed above its 200 DMA and is giving the early sign of bottom formation. The mechanical indicator is also supporting our positive view in the stock and it also looks attractive in terms of risk reward ratio. So one can the stock to grab the opportunity of attractive risk reward ratio with the of Rs 375 for the upside immediate of Rs 400.

INDUSIND BANK: The stock has taken multiple supports and showing the signs of bottoming out. Fresh longs were seen entering the counter as the stock witnessed open interest addition of around 2.50% in previous session. It surpassed the immediate hurdle of 1080 levels and also looks attractive in terms of risk reward ratio. Thus recommending to the stock with the of Rs 1,053 for the upside immediate of Rs 1,121.

GLENMARK: The stock broke the support of 880 zones as failed to surpass the hurdle of 910-911 levels and started witnessed selling pressure. It has added shorts of around 12% in last trading sessions thus supporting our short term negative view in the counter.  Thus one can with the of Rs 910 for the upside immediate of Rs 856.

Disclaimer: We are suggesting these stocks to our clients but not personal holdings.
is a Derivatives Analyst - Equity Research at Anand Rathi

image
Business Standard
177 22

Upgrade To Premium Services

Welcome User

Business Standard is happy to inform you of the launch of "Business Standard Premium Services"

As a premium subscriber you get an across device unfettered access to a range of services which include:

  • Access Exclusive content - articles, features & opinion pieces
  • Weekly Industry/Genre specific newsletters - Choose multiple industries/genres
  • Access to 17 plus years of content archives
  • Set Stock price alerts for your portfolio and watch list and get them delivered to your e-mail box
  • End of day news alerts on 5 companies (via email)
  • NEW: Get seamless access to WSJ.com at a great price. No additional sign-up required.
 

Premium Services

In Partnership with

 

Dear Guest,

 

Welcome to the premium services of Business Standard brought to you courtesy FIS.
Kindly visit the Manage my subscription page to discover the benefits of this programme.

Enjoy Reading!
Team Business Standard