Buy TVS Motor, BPCL: Chandan Taparia of Anand Rathi

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

BUY TVS MOTOR: The stock is showing the signs of bottoming out after the decline of last four trading sessions. It is holding onto the support base from last four weeks above its 50 weekly moving average and making higher lows from last three weeks. So one can buy the stock to grab the opportunity of attractive risk reward ratio with the stop loss of Rs 345 for the upside immediate target of Rs 372.

BUY BPCL: The stock managed to sustain its positive stance even after profit taking seen in the broader market. It has formed a strong price structure and is again set to start fresh rally after decline seen in the previous three weeks. The mechanical indicators are also supporting our positive view in the stock. Thus one can buy the stock with the stop loss of Rs 609 for the upside immediate target of Rs 650.

SELL INDIA CEMENTS: The stock failed to surpass its 116 levels and has formed a negative price structure. It has added fresh short position which may support our negative view in the counter. We have fundamentally contrary view on the stock but suggesting a trade for immediate profit booking decline towards 110.50 levels. One can sell the stock on a small bounce back move with strict stop loss of Rs 118 for the downside target of Rs 110.50.

SELL BHARTI INFRATEL: The stock failed to sustain above the hurdle of 390 zones and is finding selling pressure at the higher levels. It witnessed huge built up of short position with open interest addition of around 20% in last two trading session and is showing a tendency of witnessing selling pressure at the resistance levels from last three series. One can sell the stock on a small bounce back move with strict stop loss of Rs 396 for the downside target of Rs 372.

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

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