Buy Havells, KPIT and sell Castrol, says Chandan Taparia of Anand Rathi

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

BUY HAVELLS INDIA

The stock held onto the support around Rs 320 and is consolidating from last four trading sessions. It has taken support at the weekly support trend line and is well placed to head towards Rs 330 and higher levels. One can buy the stock with the stoploss of Rs 310 for the upside immediate target of Rs 330.

BUY KPIT TECHNOLOGIES

The stock is giving the signs of bottoming out and is set to start fresh rally after consolidating at the lower levels. It has been holding the support from last seven trading sessions and is trading above its 50-DMA. So, one can buy the stock to grab the opportunity of attractive risk-reward ratio with the stoploss of Rs 131 for the upside immediate target of Rs 140.

SELL CASTROL INDIA 

The stock is making lower top-lower bottom formation from last three series and is at the 52 weeks low levels. It broke the support of Rs 370 and is continuously witnessing selling pressure. According to current price placement, the stock can drift towards Rs 354 and lower levels. One can sell the stock on a small bounceback move with strict stoploss of Rs 378 for the downside target of Rs 354.

SELL LARSEN & TOUBRO

The stock has broken the support of Rs 1340 and has formed a short term negative price structure. It gave the lowest daily close of last six series. It has added fresh built-up of short position and is set to drift towards Rs 1280 and lower levels. One can sell the stock on a small bounceback move with strict stoploss of Rs 1364 for the downside target of Rs 1280.

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

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