 "Top trading calls by Anand Rathi: Buy TCS, Axis Bank")
BUY NIFTY:
TARGET: 11,850
STOP LOSS: 11,620
The Nifty closed in the positive territory in the last trading session and with that it is expected to move towards the upper end of the range. The daily momentum indicator, however, is still in the 'sell' mode which may make the Index trade within the range of 11,550-11,850 levels. However, the trend prior to this breakout was up, hence the breakout is likely to be on the upside.
BUY ICICIPRULI
TARGET: Rs 390
Also Read
STOP LOSS: 358
The stock has provided a breakout from the symmetrical triangular pattern and it has managed to close above this consolidation for the week. The daily momentum indicator MACD however is still in sell mode, hence the probability of an upside is higher.
BUY TCS
TARGET: Rs 2,295
STOP LOSS: Rs 2,195
The stock has been forming higher tops and bottoms with the daily momentum indicator MACD continuing to be in 'buy' mode. The stock has provided from a larger consolidation i.e. an ascending triangular pattern and post that it has started wave 3 of wave 5. It is likely to form a new life time highs.
AXIS BANK
BUY TARGET: Rs 795
STOP LOSS: Rs 737
The stock seems to have completed a minor wave four correction and wave five up seems to have started. The daily momentum indicator MACD has also come to its zero reference line which is a positive sign, hence a reversal in the indicator is expected with the reversal in the price.
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%