Top trading calls by Anand Rathi: Buy Tata Global, Biocon

Nifty outlook and top trading ideas by Jay Anand Thakkar, CMT -Assistant Vice President - Equity Research, Anand Rathi Research.

NIFTY: BUY
TARGET: 10960
STOP LOSS: 10840

Nifty has provided a breakout from the symmetrical triangular pattern and it has provided a breakout on the hourly chart as well. The daily, as well as an hourly momentum indicator, is well in the buy mode, hence we recommend buying Nifty for the target of 10960 with a stop loss of 10840.

TATAGLOBAL:  BUY
TARGET: Rs 226
STOP LOSS: Rs 212

The stock seems to have completed the right shoulder of the inverse head and shoulders pattern. The momentum indicator is also well into the buy mode.

BIOCON: BUY
TARGET: Rs 685
STOP LOSS: Rs 640

The stock has provided a breakout from the symmetrical triangular pattern which is a bullish reversal pattern. The momentum indicator is also well into the buy mode.

APOLLO HOSPITALS:  BUY
TARGET: Rs 1,425
STOP LOSS: Rs 1,300

The stock has provided a breakout from the rising channel and it has been forming higher tops and bottoms on the weekly charts as well. The momentum indicator is also well in the buy mode at all the degrees i.e. daily, weekly and monthly time frame.  

Disclaimer: The analyst may have positions in any or all the stocks mentioned above