Buy Dabur, UPL; sell DLF, Bank of India says Chandan Taparia of Anand Rathi

Here are a few trading ideas from Chandan Taparia of Anand Rathi for Friday's session:

BUY UPL: The stock held onto the support and moved above its recent consolidation zones. It negated the immediate negative trend of making lower highs - lower lows of last four weeks. It surpassed the hurdle of Rs 638 and gave the highest daily close of last thirteen trading sessions. I recommend to buy the stock with the stoploss of Rs 627 for the upside immediate target of Rs 666.

BUY DABUR: The stock held onto the support at its previous support zone even after profit taking seen in the broader market. It moved above its 50-DMA and surpassed the hurdle of Rs 285. According to the current price placement of the stock if follow-up buying continues, then a possibility of an up-move towards Rs 295 and higher levels cannot be ruled out. Thus, one can buy the stock with the stoploss of Rs 275 for the upside target of Rs 295.

SELL BANK OF INDIA: The stock failed to surpass its Rs 122-123 zones and has added fresh short position. It has been finding sustained supply and if support is broken, then fresh down leg might start in the counter. One can sell the stock on a small bounce back move with strict stoploss of  Rs 122 for the downside target of Rs 114.50.

SELL DLF: The stock broke the support of  Rs 113 as failed to surpass the hurdle of Rs 118 and witnessed selling pressure. It has been witnessing selling at every minor attempt to bounce indicating weakness in the counter. It has added shorts of around 6% in the last trading sessions thus supporting our negative view in the counter. Thus one can sell with the stoploss of Rs 117 for the upside immediate target of Rs 109.50. 

Disclaimer: We are suggesting these stocks to our clients but not personal holdings.

Chandan Taparia is a Derivatives Analyst - Equity Research at Anand Rathi