 "Top trading calls by Anand Rathi: Buy Maruti, CG Power")
Nifty outlook and top trading ideas by Jay Anand Thakkar, CMT -Assistant Vice President - Equity Research, Anand Rathi Research:
NIFTY: BUY
TARGET: 10,700
STOP LOSS: 10,390
Nifty closed in the negative territory in the last trading session however the index has recovered well from the lower levels. The momentum indicator MACD in the short term is also well in buy mode, so we recommend buying this for the target of 10,700 levels with a stop loss of 10,390 levels.
CENTURY TEXTILES: BUY
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TARGET: Rs 1,007
STOP LOSS: Rs 800
The stock has completed a five wave declining structure on the weekly charts with a buy crossover in its momentum indicator MACD which is quite bullish in the short term. A minimum of 38.2% retracement of the same is expected on the upside so the short-term target comes to 1007 levels, one can buy this with a stop loss of 800.
MARUTI: BUY
TARGET: Rs 7,800
STOP LOSS: Rs 6,900
The stock has completed five waves declining structure on the weekly charts. The stock has provided a buy crossover in its momentum indicator; hence a retracement of 38.2% is quite likely so one can buy for the target of 7800 levels
CG POWER: BUY
TARGET: Rs 43
STOP LOSS: Rs 33
The stock has completed five waves declining structure on the weekly charts. The stock has provided a buy crossover in its momentum indicator; hence a retracement of 38.2% is quite likely so one can buy for the target of 43 levels.
Disclaimer: The analyst may have positions in any or all the stocks mentioned above.
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