 "Technical buy and sell calls by Chandan Taparia of Anand Rathi")
Here are a few trading ideas from Chandan Taparia of Anand Rathi for Monday's session:
BUY ESCORTS
The stock has taken support at its rising trend line and is sustaining above its 50 and 200-DMA. It snapped the entire loss made in previous session and is set to head towards Rs 370 and higher levels. The support base is shifting higher as earlier the support was around Rs 282 then the same shifted to Rs 320 and now the support is around Rs 347. Thus, one can buy the stock with the stoploss of Rs 347 for the upside target of Rs 370.
BUY BEL
The stock negated the immediate price pattern of making lower highs-lower lows and retrieved its Rs 1,500 level. It is just few points away from its lifetime high levels and if follow-up buying continues, then the stock can head towards Rs 1,552 and higher levels. The support base is also shifting higher in the stock. Thus, one can buy the stock with the stoploss of Rs 1,462 for the upside immediate target of Rs 1,552.
The stock negated the immediate price pattern of making lower highs-lower lows and retrieved its Rs 1,500 level. It is just few points away from its lifetime high levels and if follow-up buying continues, then the stock can head towards Rs 1,552 and higher levels. The support base is also shifting higher in the stock. Thus, one can buy the stock with the stoploss of Rs 1,462 for the upside immediate target of Rs 1,552.
BUY BAJAJ FINANCE
The stock has formed a positive price structure and is holding onto the support zones from last thirteen trading sessions. The longs are intact in the counter from last couple of trading sessions. So, one can buy the stock with the stoploss of Rs 899 for the upside immediate target of Rs 955.
SELL MINDTREE
The stock broke its support of Rs 480 and has formed a negative price structure. It has been making lower top lower bottom from last four weeks and witnessed liquidation of longs with a decrease in open interest by around 8% in previous session. According to its current price structure it is well placed to head towards 460 and lower levels. Thus, one can sell the stock with the stoploss of Rs 486 for the downside immediate target of Rs 460.
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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