 "Top stock ideas from Anand Rathi Research for today's trade")
Nifty outlook and top trading ideas by Jay Anand Thakkar, CMT -Assistant Vice President - Equity Research, Anand Rathi Research:
NIFTY: SELL
TARGET: 10,450
STOP LOSS: 10,710
TARGET: 10,450
STOP LOSS: 10,710
The Index has broken the short-term range on the lower side which indicates that the trend going ahead is still negative. The immediate target on the lower side comes to 10,550 levels and below those levels, it comes to 10,450 levels. The resistance on the upside is pegged at 10,710 levels and till those levels aren’t taken off on the upside the overall short-term bias remains negative.
LUPIN: BUY
TARGET: Rs 940
STOP LOSS: Rs 880
TARGET: Rs 940
STOP LOSS: Rs 880
The stock has formed a sideways channel in its wave 4 on the daily charts. Post wave 4 there is a wave 5 upside which is expected from here on. The momentum indicators are well in buy mode, hence we recommend initiating a buy on this stock.
JUBLFOODS: SELL
TARGET: Rs 1,270
STOP LOSS: Rs 1,411
TARGET: Rs 1,270
STOP LOSS: Rs 1,411
The stock has formed a bearish wedge pattern in its wave 5 which is a bearish reversal sign. The momentum indicators on the daily charts have gone into sell mode which is also a bearish reversal sign. The stock has broken the rising wedge pattern which is a further confirmation of the same.
KOTAK BANK: BUY
TARGET: Rs 1,402
STOP LOSS: Rs 1,306
TARGET: Rs 1,402
STOP LOSS: Rs 1,306
The stock has provided a breakout from the sideways consolidation that is formed on the daily charts. The momentum indicators on the daily charts are also quite oversold, hence we recommend a buy on this.
Disclaimer: The analyst may have positions in any or all the stocks mentioned above.
One subscription. Two world-class reads.
Already subscribed? Log in
Subscribe to read the full story →*Subscribe to Business Standard digital and get complimentary access to The New York Times
Smart Quarterly
₹900
3 Months
₹300/Month
SAVE 25%
Smart Essential
₹2,700
1 Year
₹225/Month
SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months
Super Saver
₹3,900
2 Years
₹162/Month
Subscribe
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
SAVE 25%