Buy Granules India, RCF: Anand Rathi

Here are a few trading ideas from Chandan Taparia of Anand Rathi

GRANULES INDIA: BUY

Stop Loss: Rs 125

Target: Rs 136

The stock surpassed its 130 levels which was acting as a hurdle from last seven weeks and gave the highest daily close of last sixty nine trading sessions. It gave a price volume breakout after a consolidation of last five sessions. It was taking support and respecting its 200 DMA from last five trading sessions.

RCF: BUY

Stop Loss: Rs 44.50

Target: Rs 49.50 

The stock crossed and closed above its 200 DMA and gave the highest daily close of last seventy two trading sessions. It has been making higher highs – higher lows from last five weeks and crossed its 50 weekly moving average. It managed to cross and sustain above its 46 levels which was acting as a hurdle from last three months.

GAIL: SELL

Stop Loss: Rs 375

Target: Rs 351 

The stock failed to cross its 375 levels which has been acting as a hurdle from last three series and started to decline after a consolidation at its resistance levels. It has formed a negative price structure with liquidation of long positions. Thus a profit booking decline towards 351 and lower levels cannot be ruled out from current levels.

IRB INFRA: SELL

Stop Loss: Rs 220

Target: Rs 208

The stock broke its support of 215-216 zones and formed a negative price pattern. It witnessed built up of short position with an open interest addition of around 12% in previous two sessions. We have fundamentally contrary view on the stock but suggesting a trade for immediate profit booking decline towards 208 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