Here are a few trading ideas from Chandan Taparia of Anand Rathi
ARVIND : BUY
Target: Rs 295
Stop Loss: Rs 270
The stock has given a breakout from its consolidation of last eight trading sessions and negated the price move of last two weeks by ending the week on a positive note. It has been holding the support at its rising support trend line with significant rising in volumes on weekly basis. Thus one can buy the stock with the stop loss of Rs 270 for the downside target of Rs 295 levels.
COALINDIA : BUY
Also Read
Target: Rs 355
Stop Loss: Rs 328
It has come out from lower levels with sustained buying activities of last three trading sessions. It has engulfed the negative candle of last week and holding above 342 may continue an up move towards 350 and higher levels. It has given a highest daily close in last 20 trading sessions near to 50 DMA so also getting an early sign of fresh momentum. One can buy the stock with stop loss of Rs 328 for the upside target of Rs 355 levels.
VEDANTA: SELL
Target: Rs 89
Stop Loss: Rs 97.50
The stock has been falling down from last 3 weeks and recently broken immediate support of 100 and 97 levels. It has added fresh built up of short position and bears are dragging it to lower levels as overall trend of the counter is negative. Now till it remains below 96.50-97 zones, weakness may continue in the stock towards 89 levels. So, one can sell the stock with the stop loss of Rs 97.50 for the downside target of Rs 89 levels
JSW ENERGY : SELL
Target: Rs 83
Stop Loss: Rs 90.50
It failed to cross the hurdle of 96 levels. Although it is trading in a range from last five weeks but added significant built up of short position and holding below 88.50 may push the stock towards its next support of 83 and lower levels. It has failed its attempt for a breakout so long liquidation may also support it to go to lower levels. Thus, recommending selling the stock with the stop loss of Rs 90.50 for the downside target of Rs 83 levels.
Disclaimer : We are suggesting all these stocks to our clients but no personal holdings
Chandan Taparia is a technical analyst with Anand Rathi Retail Research
Chandan Taparia is a technical analyst with Anand Rathi Retail Research
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
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%