Buy and sell ideas from Anand Rathi for Tuesday's session

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

BUY TVS MOTORS: The stock is holding onto the gains at its support levels after the decline witnessed in the month of November. It is sustaining above its 35 weekly moving average and making higher lows from last three weeks. So one can buy the stock to grab the opportunity of attractive risk reward ratio with the stop loss of Rs 354 for the upside immediate target of Rs 377.
 
BUY TORRENT POWER: The stock held on the gains with strength even after selling pressure seen in the broader market. It is making higher highs – higher lows from last four weeks and moved above its 50 weekly moving average. So, recommending buying the stock with the stop loss of Rs 183 for the upside immediate target of Rs 195.

 

SELL ACC: The stock negated its trend of making higher highs – higher lows of last five trading sessions and fell below its 1,350 levels. Fresh built up of short position was seen in the counter with open interest addition of around 5.50% in previous session. One can sell the stock on a small bounce back move with strict stop loss of Rs 1,395 for the downside target of Rs 1,310.
 
SELL AJANTA PHARMA: The stock failed to sustain above the immediate hurdle of 1,900- 1,910 levels and broke the support of 1,840 levels. The shorts are intact in the counter with open interest addition of around 5% in previous two sessions. It gave the lowest daily close of last ten trading sessions and according to its current price placement a further decline towards 1,782 and lower levels may be seen. Thus, recommending to sell the stock with the stop loss of Rs 1,900 levels for the downside target of Rs 1,782.

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