Three stocks you can buy today

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

CENTURY TEXTILES & INDUSTRIES: BUY
STOP LOSS: Rs 597
TARGET: Rs 636

The stock gave a breakout from its falling supply trend line and geared up for a fresh rally towards Rs 636 and higher zones. It had witnessed a pause  after  a strong rally from Rs 403 to Rs 643 levels seen in the month of March and April but now it is set to start the fresh up move. Thus recommending buying the stock with the stop loss Rs 597 for the upside immediate target of Rs 636 levels.

 
HERO MOTOCORP: BUY
STOP LOSS: Rs 2,859
TARGET: Rs 3,035

The stock crossed its falling supply trend line on daily chart and started to move after taking support at its 50 EMA. It gave the highest daily close of last 23 trading sessions with rise in volumes and trading activities. So, one can buy the stock with the stop loss of Rs 2,859 for the upside target of Rs 3,035 levels.
 
STATE BANK OF INDIA: BUY
STOP LOSS: Rs 175
TARGET: Rs 187

The stock took support at the lower levels and started its positive price action with all other banking stocks. It took support at its lower band of the recent trading range and witnessed fresh built up of long position of around 13% in the start of the new series thus giving a sense of bullishness in the counter. So, one can buy the stock with the stop loss of Rs 175 for the upside target of Rs 187 levels.

 
BATA INDIA: SELL
STOP LOSS: Rs 566
TARGET: Rs 532.50

The stock failed to sustain above its Rs 600 territory and started to witness selling pressure. It has been falling continuously from last four weeks. It broke its support of Rs 550 - Rs 545 zones and has formed a negative price pattern. One can sell the stock with the stop loss of Rs 566 for the downside immediate target of Rs 532.50 levels.

Disclaimer: We are suggesting all these stocks to our clients but no personal holdings.

Chandan Taparia is a Derivatives Analyst - Equity Research at Anand Rathi