 "Top intraday calls from Chandan Taparia of Anand Rathi")
BUY SUN PHARMA:
STOPLOSS: Rs 840
TARGET: Rs 900
The stock has been consolidating from last twenty one trading sessions and also taking support at its 200 DMA on closing basis. It is set to give the highest weekly close of last 15 weeks and also took support at its 50 weekly moving average. It held onto the gains even after the volatile swings in the broader market thus showing the potential to head towards 900 and higher levels. Traders can buy the stock with the stop loss of Rs840 for the upside target of Rs900 levels.
The stock has been making lower top – lower bottom formation and not ready to recover even after support near to 50 zones. It has seen huge shorts built up and those shorts are intact from last series through rollover activities. It is hovering near multi year low levels and amongst the weakest stock in the mid cap banking sector. We are expecting this weakness to continue towards 47.50 zones. One can sell the stock on small bounce back move with stop loss of Rs 55 for the downside target of Rs 47.50 levels.
SELL JINDAL STEEL:
STOPLOSS: Rs 59
Chandan Taparia is a technical analyst with Anand Rathi
STOPLOSS: Rs 840
TARGET: Rs 900
The stock has been consolidating from last twenty one trading sessions and also taking support at its 200 DMA on closing basis. It is set to give the highest weekly close of last 15 weeks and also took support at its 50 weekly moving average. It held onto the gains even after the volatile swings in the broader market thus showing the potential to head towards 900 and higher levels. Traders can buy the stock with the stop loss of Rs840 for the upside target of Rs900 levels.
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BUY MARICO:
STOPLOSS: Rs 230
TARGET: Rs 248
The stock has been holding onto its positive stance and is rising upwards with respecting to its 13 weekly moving average. It registered fresh lifetime high at 243.60 levels and edged higher even after the sharp cuts being witnessed in the broader market. It crossed the immediate hurdle of 234 zones and is now giving signs to move towards 248 levels as trading at unchartered territory. Traders can buy the stock with the stop loss of Rs 230 for the upside target of Rs 248 levels.
SELL SYNDICATE BANK:
STOPLOSS: Rs 55
TARGET: Rs 47.50
TARGET: Rs 248
The stock has been holding onto its positive stance and is rising upwards with respecting to its 13 weekly moving average. It registered fresh lifetime high at 243.60 levels and edged higher even after the sharp cuts being witnessed in the broader market. It crossed the immediate hurdle of 234 zones and is now giving signs to move towards 248 levels as trading at unchartered territory. Traders can buy the stock with the stop loss of Rs 230 for the upside target of Rs 248 levels.
SELL SYNDICATE BANK:
STOPLOSS: Rs 55
TARGET: Rs 47.50
The stock has been making lower top – lower bottom formation and not ready to recover even after support near to 50 zones. It has seen huge shorts built up and those shorts are intact from last series through rollover activities. It is hovering near multi year low levels and amongst the weakest stock in the mid cap banking sector. We are expecting this weakness to continue towards 47.50 zones. One can sell the stock on small bounce back move with stop loss of Rs 55 for the downside target of Rs 47.50 levels.
SELL JINDAL STEEL:
STOPLOSS: Rs 59
TARGET: Rs 51.50
The stock is continuously falling and is hovering near its multi yearly low levels. It has been making lower top – lower bottom and every small bounce back is being sold in the counter. It has added fresh built up of short position even at current levels and sustains call writing at all higher strike also indicates its weak price structure. Thus, recommending selling the stock on bounce back move with the stop loss of Rs 59 for the downside target of Rs 51.50 levels.
Disclaimer : We are suggesting all these stocks to our clients but no personal holdings.
The stock is continuously falling and is hovering near its multi yearly low levels. It has been making lower top – lower bottom and every small bounce back is being sold in the counter. It has added fresh built up of short position even at current levels and sustains call writing at all higher strike also indicates its weak price structure. Thus, recommending selling the stock on bounce back move with the stop loss of Rs 59 for the downside target of Rs 51.50 levels.
Disclaimer : We are suggesting all these stocks to our clients but no personal holdings.
Chandan Taparia is a technical analyst with Anand Rathi
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