Four stocks to buy today

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

RALLIS INDIA: BUY

Target: Rs 228

Stop Loss: Rs 203

It has taken multiple support at Rs 203-205 zones and turning from the lower band of the trading range. It has given highest close in last eight trading sessions and looks attractive in terms of risk reward ratio as per price behavior to move towards Rs 228 and higher levels. Thus traders can buy the stock with stop loss of Rs 203 for the upside immediate target of Rs 228 levels.

 

APOLLO TYRES: BUY

Target: Rs 194

Stop Loss: Rs 177

It surpassed the falling supply trend line and gave a strong breakout with the highest daily close of last thirteen trading sessions. It has made a strong base and crossed its 50 DMA. Thus traders can buy the stock with stop loss of Rs 177 for the upside immediate target of Rs 194 levels.

 
SHRIRAM TRANSPORT: BUY

Target: Rs 920

Stop Loss: Rs 835

It has been moving upwards from last three trading sessions and crossed its immediate hurdle of Rs 850 and Rs 880 zones. We are expecting sharp move led by short covering activities towards Rs 920 and higher levels. Thus traders can buy the stock with stop loss of Rs 835 for the upside immediate target of Rs 920 levels.

 
BPCL: BUY

Target: Rs 863

Stop Loss: Rs 820

It has formed base at Rs 815- 820 zones and added Open interest by more than 5% in last couple of trading sessions. It is turning from the major support with rising trading and open interest activity. So one can go long in the stock with the stop loss of Rs 820 for the upside target of Rs 863 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