 "Anand Rathi recommends buy on BHEL, Dish TV, Exide Industries")
Here are a few trading ideas from Chandan Taparia of Anand Rathi for trade today:
BUY BHEL: The stock is holding onto its gains above its 50, 200 and 35 DMA. It snapped the loss made in previous two sessions and is now set to head towards Rs 153 and higher levels. Thus recommending buying the stock with the stop loss of Rs 144 for the upside immediate target of Rs 153 levels.
BUY DISH TV: The stock has given a breakout from its recent trading range and crossed and closed above its hurdle of Rs 99 levels. It surpassed its 50 DMA and has formed an attractive price pattern with rise in volumes. It has been holding onto the support base from last four weeks. Thus recommending buying the stock with the stop loss of Rs 95 for the upside immediate target of Rs 102.50 levels.
BUY EXIDE INDUSTRIES: The stock was making higher highs higher lows in the initial part of the series however it witnessed some profit taking with the broader market on Monday’s session but managed to hold onto the support which has bullish implication. It witnessed built up of long position with open interest addition of around 4% in previous session. We have fundamentally contrary view on the stock but suggesting a trade for immediate bounce towards Rs 200 levels. So, recommending buying the stock with the stop loss of Rs 187 for the upside immediate target of Rs 200 levels.
SELL AMBUJA CEMENTS: The stock is making lower top – lower bottom formation from last six trading sessions as it failed to surpass the multiple hurdle of Rs 278- Rs 280 zone and finding selling pressure at the higher levels. It is witnessing built up of short position with open interest addition of around 15% in last three sessions. One can sell the stock on a small bounce back move with strict stop loss of Rs 272 for the downside target of Rs 255 levels.
Disclaimer: We are suggesting these stocks to our clients but not personal holdings
Chandan Taparia is a Derivatives Analyst - Equity Research at Anand Rathi
BUY BHEL: The stock is holding onto its gains above its 50, 200 and 35 DMA. It snapped the loss made in previous two sessions and is now set to head towards Rs 153 and higher levels. Thus recommending buying the stock with the stop loss of Rs 144 for the upside immediate target of Rs 153 levels.
BUY DISH TV: The stock has given a breakout from its recent trading range and crossed and closed above its hurdle of Rs 99 levels. It surpassed its 50 DMA and has formed an attractive price pattern with rise in volumes. It has been holding onto the support base from last four weeks. Thus recommending buying the stock with the stop loss of Rs 95 for the upside immediate target of Rs 102.50 levels.
BUY EXIDE INDUSTRIES: The stock was making higher highs higher lows in the initial part of the series however it witnessed some profit taking with the broader market on Monday’s session but managed to hold onto the support which has bullish implication. It witnessed built up of long position with open interest addition of around 4% in previous session. We have fundamentally contrary view on the stock but suggesting a trade for immediate bounce towards Rs 200 levels. So, recommending buying the stock with the stop loss of Rs 187 for the upside immediate target of Rs 200 levels.
SELL AMBUJA CEMENTS: The stock is making lower top – lower bottom formation from last six trading sessions as it failed to surpass the multiple hurdle of Rs 278- Rs 280 zone and finding selling pressure at the higher levels. It is witnessing built up of short position with open interest addition of around 15% in last three sessions. One can sell the stock on a small bounce back move with strict stop loss of Rs 272 for the downside target of Rs 255 levels.
Disclaimer: We are suggesting these stocks to our clients but not personal holdings
Chandan Taparia is a Derivatives Analyst - Equity Research at Anand Rathi
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