Four trading calls from Chandan Taparia

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

HINDUSTAN UNILEVER: BUY

Target: Rs 842
Stop Loss: Rs 786

The stock is turning from the lower levels after forming double bottom pattern on daily chart. It crossed the hurdle of Rs 815 levels and gave the highest daily close of last two weeks. It is making higher highs - higher lows from last two trading sessions and negated its negative trend on weekly chart. So recommending buying the stock with the stop loss of Rs 786 for the upside target of Rs 842 levels.

TCS : BUY

Target: Rs 2,723
Stop Loss: Rs 2,555

It has been consolidating in a broader range from last couple of weeks but the support is slightly shifting to higher levels which indicates that every decline near the support is a buying opportunity. Even though, it is stuck in a range but still managed to sustain the gains above its 50 DMA. Thus recommending buying the stock with the stop loss of Rs 2555 for the upside target of Rs 2723 levels.

SIEMENS: BUY

Target: Rs 1,395
Stop Loss: Rs 1,295

It has been making higher highs from last three trading sessions and crossed the hurdle of  Rs 1340 levels and also gave the highest daily close of last 26 trading sessions. As per the recent data and price behavior it is well placed to see the next round of momentum towards Rs 1395 and higher levels. Thus recommending to go long in the stock with the stop loss of Rs 1295 for the upside target of Rs 1395 levels.

SYNDICATE BANK: SELL

Target: Rs 79
Stop Loss: Rs 86.25

The stock failed to cross a strong hurdle of Rs 85-86 zones and has been making lower top – lower bottom formation. It is witnessing built up of short position and these shorts are intact in the counter with short rollover from previous series to current series. We are expecting this weakness to continue for next coming sessions. So, one can sell the stock with the stop loss of Rs 86.25 for the downside target of Rs 79 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