Chart Check: KPIT, Vedanta, TVS Motor, BHEL

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


BUY KPIT: The stock is moving after a consolidation of last thirteen weeks and surpassed its hurdle of Rs 145 levels. It crossed and closed above its 200 and 50 weekly moving averages.  It gave the highest daily close of last sixty seven trading sessions. Thus recommending buying the stock with the stop loss of Rs 140 for the upside immediate target of Rs 150 levels.
 

BUY VEDANTA: The stock has formed a positive price structure on daily and weekly chart and closed above its immediate hurdle of Rs 200 zones. It has been shifting support on higher side and recently taken up swing from the lows of Rs 191 zones. We are expecting its momentum to continue for next coming sessions. Recommending buying the stock with stop loss of Rs 196 for the upside target of Rs 208 levels.

 
BUY TVS MOTOR: The stock registered new lifetime high at Rs 409 levels and has been making higher highs higher lows from last six weeks. Recently, it surpassed its important hurdle of Rs 340 levels and the support base is also shifting higher. The up move in the stock was led by short covering activities and now a further move towards Rs 420 levels and higher levels cannot be ruled out. Thus recommending buying the stock with the stop loss of Rs 392 for the upside immediate target of Rs 420 levels.


SELL BHEL: The stock failed to surpass its hurdle of Rs 142 zones and started to decline. It witnessed long liquidation and has a tendency of witnessing selling at every minor bounce. Thus expecting the same to continue towards Rs 138.50 and lower levels.  So, one can sell the stock with the stop loss Rs 146 for the downside immediate target of Rs 138.50 levels.

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

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