 "Stock picks from Anand Rathi: Buy Jubilant Foodworks, HUL")
Here are a few trading ideas from Chandan Taparia of Anand Rathi for Thursday's session:
BUY JUBILANT FOODWORKS: The stock has taken multiple support near to 825-830 zones and surpassed its immediate hurdle of 855 levels. However, medium term trend is still in pressure but the way it has bottomed out might see a support based buying activities. It looks attractive in terms of risk reward ratio so one can buy with stop loss of Rs 849 for the upside immediate target of Rs 905.
BUY AMARA RAJA BATTERIES: The stock has managed to hold immediate support of 880-890 zones and surpassed intraday hurdle of 915 levels. Overall it was under the consolidation phase for last two months and now a decisive move may attract a fresh rally towards 949 and 980 zones. One can buy the stock with the stop loss of Rs 894 for the upside target of Rs 949.
BUY HINDUSTAN UNILEVER: The stock has managed to surpass its multiple hurdle of 845 zones and formed a positive price pattern. It has made multiple bottom near to 783-786 zones and has been moving upwards with its shift in support zones. We have seen put writing at lower strike which also supports our positive view on the stock. Thus, recommending buying the stock with the stop loss of Rs 836 for the upside target of Rs 888.
SELL SUN TV NETWORK: The stock has failed to surpass its multiple hurdle of 545 zones and started to witness liquidation of long position. It has broken its support of 526 mark and holding below the same may cause a profit booking decline towards 500 zones. Thus, recommending selling the stock on a small bounce back move with the stop loss of Rs 547 for the downside target of Rs 517.
Disclaimer: We are suggesting these stocks to our clients but not personal holdings.
Chandan Taparia is a Derivatives Analyst - Equity Research at Anand Rathi
BUY JUBILANT FOODWORKS: The stock has taken multiple support near to 825-830 zones and surpassed its immediate hurdle of 855 levels. However, medium term trend is still in pressure but the way it has bottomed out might see a support based buying activities. It looks attractive in terms of risk reward ratio so one can buy with stop loss of Rs 849 for the upside immediate target of Rs 905.
BUY AMARA RAJA BATTERIES: The stock has managed to hold immediate support of 880-890 zones and surpassed intraday hurdle of 915 levels. Overall it was under the consolidation phase for last two months and now a decisive move may attract a fresh rally towards 949 and 980 zones. One can buy the stock with the stop loss of Rs 894 for the upside target of Rs 949.
BUY HINDUSTAN UNILEVER: The stock has managed to surpass its multiple hurdle of 845 zones and formed a positive price pattern. It has made multiple bottom near to 783-786 zones and has been moving upwards with its shift in support zones. We have seen put writing at lower strike which also supports our positive view on the stock. Thus, recommending buying the stock with the stop loss of Rs 836 for the upside target of Rs 888.
SELL SUN TV NETWORK: The stock has failed to surpass its multiple hurdle of 545 zones and started to witness liquidation of long position. It has broken its support of 526 mark and holding below the same may cause a profit booking decline towards 500 zones. Thus, recommending selling the stock on a small bounce back move with the stop loss of Rs 547 for the downside target of Rs 517.
Disclaimer: We are suggesting these stocks to our clients but not personal holdings.
Chandan Taparia is a Derivatives Analyst - Equity Research at Anand Rathi
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