Buy Exide, Dabur, Aurobindo Pharma: Chandan Taparia

Here are a few stock recommendations from Anand Rathi Research

EXIDEIND - BUY
SL-Rs 155
TGT-Rs 172

The stock has started moving after consolidating for the last fourteen weeks and has crossed its multiple hurdles at the 162 zone. Recently, the stock has taken support near Rs 155 and is holding well above its 50-DMA. So, we are recommending a long trade with a stop loss of Rs 155 for an upside target of Rs 172.

DABUR - BUY
SL-Rs 291
TGT-Rs 315

The stock has taken multiple supports near the Rs 290 zone in the last five consecutive weeks. In the previous trading session, the stock made a bullish harami candle on the daily charts, which affirms our positive view and indicates a 'hold' at current levels. So we are advising investors to trade long, with a stop-loss of Rs 291 for an upside target of Rs 315.

AUROBINDO PHARMA - BUY
SL-Rs 755
TGT-Rs 820

The stock is holding its support base, with fresh built-up of long positions. It has been making higher highs-higher lows from the past two trading sessions and is set to resume the next leg of its rally, as per recent price behavior. It is showing the strength to move towards higher levels. So we are recommending to trade long with stop loss of Rs 755 for an upside target of Rs 820.

TATA POWER - SELL
SL-Rs 72
TGT-Rs 65

The stock is continuously trading in weakness from last one year and witnessing selling pressure at every minor attempt to bounce back. It is trading at one-year lows and has been making lower tops and lower bottom formation on the charts. It has added huge short positions, with shorts rollover from the last series to current series, and has broken all its support levels. This indicate that the stock is totally in a bear grip. One can sell the stock with a stop-loss of Rs 72 for a downside target of Rs 65.

Disclaimer: We are suggesting all these stocks to our clients but there is no personal holding


Chandan Taparia is a technical analyst with Anand Rathi Retail Research