Chart Check: KPIT Technologies, DLF, Tata Global, Apollo Hospitals

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

KPIT TECHNOLOGIES: BUY
STOP LOSS: Rs 154.50
TARGET: Rs 166

The stock gave a price volume breakout after a consolidation of last eight weeks. It has been holding above its 50 DMA from last thirty five trading sessions and registered highest daily close of last seventy two trading sessions. After a strong rally from Rs 108 to Rs 155 levels it consolidated in a range from Rs 155 to Rs 140 for eight weeks and now it witnessed a consolidation breakout in previous session. Thus a positive move towards Rs 166 and higher levels cannot be ruled out. Thus recommending buying the stock with the stop loss of Rs 154.50 for the upside target of Rs 166 levels.

DLF: BUY
STOP LOSS: Rs 119
TARGET: Rs 128

The stock has been gradually rising from last thirty nine trading sessions and support is shifting to higher levels. It gave the highest daily close of last twenty six weeks and is continuously respecting to its 13 Day moving average and 50 weekly moving average. So, recommending to buy the stock with the stop loss of Rs 119 for the target of Rs 128 levels.
 
TATA GLOBAL BEVERAGES: SELL
STOP LOSS: Rs 126
TARGET: Rs 118

The stock has formed a negative price structure and failed to cross its Rs 124 levels. It failed to cross its Rs 126 levels and has been finding hurdle at the same from last 11-12 weeks. Thus, a possibility of further decline towards Rs 118 and lower levels may be seen. So, one can sell the stock with the stop loss Rs 126 for the downside target of Rs 118 levels.

 
APOLLO HOSPITALS ENTERPRISE: SELL
STOP LOSS: Rs 1,370
TARGET: Rs 1,289

The stock has been making lower top – lower bottom formation from last five sessions and snapped the gains of last three weeks. In the previous week it failed to cross its Rs 1,405 levels and started to witness profit booking decline. It broke its weekly support of Rs 1,335-Rs 1,340 zones and now it has formed a negative price structure. So, one can sell the stock with the stop loss Rs 1,370 for the downside target of Rs 1,289 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