Buy Bajaj Corp, Lupin, LIC Housing: Anand Rathi

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

LIC HOUSING FINANCE: BUY

TARGET: Rs 492
STOP LOOSS:  459

The stock has recently taken multiple support at around Rs 453-456 zones and moving upwards after a consolidation of last 10 trading sessions. It has managed to hold the important support and given a close above its 50 DMA by negating its immediate lower top – lower bottom formation. 

BAJAJ CORP: BUY

TARGET: Rs 472
STOP LOSS: Rs 434

It has been making higher highs – higher lows on weekly chart and surpassed its falling supply trend line by holding above 50 DMA. It has also crossed immediate hurdle of 445 levels and gave the highest daily close of last thirty three trading sessions. 

LUPIN: BUY

TARGET: Rs 1,920
STOP LOSS: Rs  1,804

It has taken multiple support and moving upwards from last four trading sessions and crossed the hurdle of  Rs 1,835 zones. It is set to start an up move after the overall consolidation of last 12 trading sessions. Earlier it corrected from Rs 2096 to 1760 zones and now moving upwards led by short covering activities so also looks attractive in terms of risk - reward ratio. 

JSW ENERGY: SELL

TARGET: Rs 83
STOP LOSS: Rs 91 

It failed to cross 90 zones after the recovery of last six trading sessions and shorts are again being active in the counter. It has tendency of witnessing sustain pressure after an every bounce back move and we are expecting this behavior to continue as per its price and open interest data. 

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