Here are a few trading ideas from Chandan Taparia of Anand Rathi for trade today:
ASHOKLEY: BUY
Target: Rs 109
Stop Loss: Rs 101.50
The stock has taken multiple supports around its Rs 104 zones on daily and weekly chart. The overall trend of the stock is intact to positive and has been respecting to its 35 weekly moving average on closing basis from last two years. Thus a positive move towards Rs 109 and higher levels cannot be ruled out. One can buy the stock with the stop loss of Rs101.50 for the upside target of Rs 109 levels.
DLF: BUY
Target: Rs 133
Stop Loss: Rs 125
The stock has been gradually rising from last forty trading sessions and support is shifting to higher levels. It gave a price volume breakout and surpassed the hurdle of Rs126-128 levels and registered highest daily close of last twenty six weeks and is continuously respecting to its 13 Day moving average and 50 weekly moving average. So, recommending to buy the stock with the stop loss of Rs 125 for the target of Rs 133 levels.
LICHSGFIN: BUY
Target: Rs 477
Stop Loss: Rs 450
The stock took support around Rs 453 levels after a decline from Rs 488 to 453 zones. It witnessed built up of long position on the first day of the series with open interest addition of around 4%. It has formed a strong support and looks attractive to move higher towards Rs 477 levels. So, suggesting to buy the stock with the stop loss of Rs 450 for the upside target of Rs 477 levels.
BANKINDIA: SELL
Target: Rs 89.50
Stop Loss: Rs 97
The stock broke its support of Rs 95.50-95 zones and formed a negative price pattern. It witnessed built up of short position with an open interest addition of around 7% on the first day of May series. Overall the trend is negative and has been witnessing selling pressure at every resistance levels. Thus we are recommending selling the stock on bounce back move with the strict stop loss of Rs 97 for the upside target of Rs 89.50 levels.
Disclaimer: We are suggesting all these stocks to our clients but no personal holdings.
Chandan Taparia is a Derivatives Analyst - Equity Research at Anand Rathi
ASHOKLEY: BUY
Target: Rs 109
Also Read
Stop Loss: Rs 101.50
The stock has taken multiple supports around its Rs 104 zones on daily and weekly chart. The overall trend of the stock is intact to positive and has been respecting to its 35 weekly moving average on closing basis from last two years. Thus a positive move towards Rs 109 and higher levels cannot be ruled out. One can buy the stock with the stop loss of Rs101.50 for the upside target of Rs 109 levels.
DLF: BUY
Target: Rs 133
Stop Loss: Rs 125
The stock has been gradually rising from last forty trading sessions and support is shifting to higher levels. It gave a price volume breakout and surpassed the hurdle of Rs126-128 levels and registered highest daily close of last twenty six weeks and is continuously respecting to its 13 Day moving average and 50 weekly moving average. So, recommending to buy the stock with the stop loss of Rs 125 for the target of Rs 133 levels.
LICHSGFIN: BUY
Target: Rs 477
Stop Loss: Rs 450
The stock took support around Rs 453 levels after a decline from Rs 488 to 453 zones. It witnessed built up of long position on the first day of the series with open interest addition of around 4%. It has formed a strong support and looks attractive to move higher towards Rs 477 levels. So, suggesting to buy the stock with the stop loss of Rs 450 for the upside target of Rs 477 levels.
BANKINDIA: SELL
Target: Rs 89.50
Stop Loss: Rs 97
The stock broke its support of Rs 95.50-95 zones and formed a negative price pattern. It witnessed built up of short position with an open interest addition of around 7% on the first day of May series. Overall the trend is negative and has been witnessing selling pressure at every resistance levels. Thus we are recommending selling the stock on bounce back move with the strict stop loss of Rs 97 for the upside target of Rs 89.50 levels.
Disclaimer: We are suggesting all these stocks to our clients but no personal holdings.
Chandan Taparia is a Derivatives Analyst - Equity Research at Anand Rathi
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