 "Top trading calls by Chandan Taparia of Anand Rathi")
VOLTAS: BUY
Stop Loss: Rs 272
Target; Rs 295
The stock has taken support near to Rs 260 zones and has negated its recent negative trend of last two weeks. It has been holding the gains from last two trading sessions and looks strong as turning from oversold price territory. It moved above its 13 DMA and gave the highest daily close of last five trading sessions. The support base is shifting to higher levels and it has potential to move towards Rs 295 and Rs 305 zones.
Stop Loss: Rs 272
Target; Rs 295
The stock has taken support near to Rs 260 zones and has negated its recent negative trend of last two weeks. It has been holding the gains from last two trading sessions and looks strong as turning from oversold price territory. It moved above its 13 DMA and gave the highest daily close of last five trading sessions. The support base is shifting to higher levels and it has potential to move towards Rs 295 and Rs 305 zones.
PETRONET LNG: BUY
Stop Loss: Rs 241
Target; Rs 260
The stock has taken support at its 50 DMA and negated the negativity of last nine trading sessions. It crossed its 38.2% retracement levels of recent fall of last two weeks and snapped the losses of last four trading sessions. It has also surpassed it falling channel and major trend of the stock is intact to positive even after the sharp cut in the broader market.
Stop Loss: Rs 241
Target; Rs 260
The stock has taken support at its 50 DMA and negated the negativity of last nine trading sessions. It crossed its 38.2% retracement levels of recent fall of last two weeks and snapped the losses of last four trading sessions. It has also surpassed it falling channel and major trend of the stock is intact to positive even after the sharp cut in the broader market.
INDRAPRASTHA GAS LIMITED: BUY
Stop Loss: Rs 552
Target: Rs 591
The stock was holding the support base from last four trading sessions even after the negativity of the broader market. It crossed and closed above the immediate hurdle of 560 levels and edged higher to re-enter into new life time high territory. It witnessed built up of long position with an open interest addition of around 7% in previous session.
Stop Loss: Rs 552
Target: Rs 591
The stock was holding the support base from last four trading sessions even after the negativity of the broader market. It crossed and closed above the immediate hurdle of 560 levels and edged higher to re-enter into new life time high territory. It witnessed built up of long position with an open interest addition of around 7% in previous session.
BHARTI AIRTEL: SELL
Stop Loss: Rs 313
Target; Rs 292
The stock has been making lower top –lower bottom formation on daily, weekly and monthly chart from last one year and has been continuously trading in bear grip. It failed to cross immediate strong hurdle of Rs 313 zones and slipped below its weekly support of Rs 305 levels by hitting its fresh 52 weeks low levels. It has been witnessing significant built up of short position as total open interest addition is up by around 50% with negative price flow in the entire series.
Stop Loss: Rs 313
Target; Rs 292
The stock has been making lower top –lower bottom formation on daily, weekly and monthly chart from last one year and has been continuously trading in bear grip. It failed to cross immediate strong hurdle of Rs 313 zones and slipped below its weekly support of Rs 305 levels by hitting its fresh 52 weeks low levels. It has been witnessing significant built up of short position as total open interest addition is up by around 50% with negative price flow in the entire series.
Disclaimer : We are suggesting all these stocks to our clients but no personal holdings.
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