Chart Check: Zee Entertainment, Interglobe, Punjab National Bank
Here are a few trading ideas from Chandan Taparia of Anand Rathi
 "Chart Check: Zee Entertainment, Interglobe, Punjab National Bank")
ZEE ENTERTAINMENT: BUY
Stop Loss: Rs 420
Target: Rs 450
It gave a consolidation breakout in previous trading session after an accumulation of last nine trading sessions. It is trading at 52 weeks high with rising volumes and also registered highest yearly closing. It is trading above all the moving averages.
Stop Loss: Rs 420
Target: Rs 450
It gave a consolidation breakout in previous trading session after an accumulation of last nine trading sessions. It is trading at 52 weeks high with rising volumes and also registered highest yearly closing. It is trading above all the moving averages.
INTERGLOBE: BUY
Stop Loss: Rs 1,195
Target: Rs 1,280
It registered lifetime high levels and is continuously holding its positive stance even after decline in the broader market. It has been making higher top - higher bottom formation on weekly chart.
Stop Loss: Rs 1,195
Target: Rs 1,280
It registered lifetime high levels and is continuously holding its positive stance even after decline in the broader market. It has been making higher top - higher bottom formation on weekly chart.
LIC HOUSING FINANCE: BUY
Stop Loss: Rs 495
Target: Rs 525
It recently crossed its Rs 500 levels after the struggle of last forty two trading sessions and gave the highest daily since 7th August, 2015 with rise in trading volumes. It is now showing the potential to cross its lifetime high levels and head towards new higher levels.
Stop Loss: Rs 495
Target: Rs 525
It recently crossed its Rs 500 levels after the struggle of last forty two trading sessions and gave the highest daily since 7th August, 2015 with rise in trading volumes. It is now showing the potential to cross its lifetime high levels and head towards new higher levels.
PUNJAB NATIONAL BANK: SELL
Stop Loss: Rs 122
Target: Rs 110
It failed to cross immediate hurdle of Rs 124-125 zones after the continuous struggle of last two weeks. It broke its support of 120 zones and registered 52 weeks lowest levels. It is not ready to recover even after the recovery in broader market which indicates weak undertone of the stock. Overall trend is negative as sustained selling pressure is being witnessed in the stocks and shorts are intact as it has been falling from last couple of weeks.
Stop Loss: Rs 122
Target: Rs 110
It failed to cross immediate hurdle of Rs 124-125 zones after the continuous struggle of last two weeks. It broke its support of 120 zones and registered 52 weeks lowest levels. It is not ready to recover even after the recovery in broader market which indicates weak undertone of the stock. Overall trend is negative as sustained selling pressure is being witnessed in the stocks and shorts are intact as it has been falling from last couple of weeks.
Disclaimer : We are suggesting all these stocks to our clients but no personal holdings
Chandan Taparia is a derivative and technical analyst with Anand Rathi