 "Buy TCS, Dabur, REC; Sell Kaveri Seed: Chandan Taparia")
TCS: BUY
Target: Rs 2,660
Stop Loss: Rs 2,530
It has been moving in long consolidation from last couple of months and recently it has taken support at 2510-2530 zones and has managed to hold above its 50 DMA. It is trading in a range from last couple of months with support base shifting to the higher levels. Thus, it is showing the potential to move towards 2660 and higher levels. Traders can buy the stock with stop loss of Rs 2,530 for the upside immediate target of Rs 2,660 levels.
Target: Rs 264
The stock has taken multiple supports near to 270 zones in last seven trading sessions and may start an up move after the recent profit booking from 317 to 257 levels. Overall term trend is positive and recent correction provides a good opportunity to reenter into the trade. Thus recommending to go long in the counter with the stop loss of Rs 272 for the upside target of Rs 295 levels.
KAVERI SEED COMPANY : SELL
Target: Rs 435
Stop Loss: Rs 465
The stock has been falling from last four consecutive series with aggressive built up of short position. Recently, it witnessed a bounce back move but failed to cross 513 levels and broke its immediate support of 465 levels. Overall the stock is in bears grip and may fall down towards 435 and 420 levels. Thus, recommending selling the stock with the stop loss of Rs 465 for the downside target of Rs 435 levels.
Disclaimer: We are suggesting all these stocks to our clients but no personal holdings.
Chandan Taparia is a technical analyst with Anand Rathi Retail Research
Target: Rs 2,660
Stop Loss: Rs 2,530
It has been moving in long consolidation from last couple of months and recently it has taken support at 2510-2530 zones and has managed to hold above its 50 DMA. It is trading in a range from last couple of months with support base shifting to the higher levels. Thus, it is showing the potential to move towards 2660 and higher levels. Traders can buy the stock with stop loss of Rs 2,530 for the upside immediate target of Rs 2,660 levels.
Also Read
RURAL ELECTRIFICATION CORPORATION (REC): BUY
Target: Rs 264
Stop Loss: Rs 241
The stock is turning from the oversold territory and finding sustained buying interest from last couple of trading sessions. It has seen sustained selling in last six months from 371 to 200 levels and now looks attractive in terms of risk reward ratio. In the last week it made a reversal candle and now holding above 250 may take it to 264 and 268 levels. Traders can buy the stock with stop loss of Rs 241 for the upside immediate target of Rs 264 levels.
DABUR INDIA: BUY
Target: Rs 295
Stop Loss: Rs 272
The stock is turning from the oversold territory and finding sustained buying interest from last couple of trading sessions. It has seen sustained selling in last six months from 371 to 200 levels and now looks attractive in terms of risk reward ratio. In the last week it made a reversal candle and now holding above 250 may take it to 264 and 268 levels. Traders can buy the stock with stop loss of Rs 241 for the upside immediate target of Rs 264 levels.
DABUR INDIA: BUY
Target: Rs 295
Stop Loss: Rs 272
The stock has taken multiple supports near to 270 zones in last seven trading sessions and may start an up move after the recent profit booking from 317 to 257 levels. Overall term trend is positive and recent correction provides a good opportunity to reenter into the trade. Thus recommending to go long in the counter with the stop loss of Rs 272 for the upside target of Rs 295 levels.
KAVERI SEED COMPANY : SELL
Target: Rs 435
Stop Loss: Rs 465
The stock has been falling from last four consecutive series with aggressive built up of short position. Recently, it witnessed a bounce back move but failed to cross 513 levels and broke its immediate support of 465 levels. Overall the stock is in bears grip and may fall down towards 435 and 420 levels. Thus, recommending selling the stock with the stop loss of Rs 465 for the downside target of Rs 435 levels.
Disclaimer: We are suggesting all these stocks to our clients but no personal holdings.
Chandan Taparia is a technical analyst with Anand Rathi Retail Research
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