Top trading calls from Anand Rathi
Here are a few trading ideas from Chandan Taparia of Anand Rathi
 "Top trading calls from Anand Rathi")
BPCL: BUY
Target: Rs 930
Stop Loss: Rs 872
It has been making higher top - higher bottom formation on daily chart. It closed above its Rs 50 DMA and gave the highest daily close of last 10 trading session with rise in trading volumes. It is holding its positive stance and holding the gains even after selling pressure in the broader market.
Target: Rs 930
Stop Loss: Rs 872
It has been making higher top - higher bottom formation on daily chart. It closed above its Rs 50 DMA and gave the highest daily close of last 10 trading session with rise in trading volumes. It is holding its positive stance and holding the gains even after selling pressure in the broader market.
DABUR: BUY
Target: Rs 275
Stop Loss: 258
It has been consolidating in a range from last 13 weeks and has managed to hold the support base at Rs 260-262 zones. It is not ready to give up even after sustain supply at higher levels which clearly indicates strength in the counter. It is defensive counter which is continuously holding the support from last couple of trading sessions.
Target: Rs 275
Stop Loss: 258
It has been consolidating in a range from last 13 weeks and has managed to hold the support base at Rs 260-262 zones. It is not ready to give up even after sustain supply at higher levels which clearly indicates strength in the counter. It is defensive counter which is continuously holding the support from last couple of trading sessions.
RURAL ELECTRIFICATION CORPORATION: BUY
Target: Rs 250
Stop Loss : Rs 230
It has taken multiple support near Rs 220-225 zone after the struggle of last 5-6 trading sessions. It negated the negativity of last two weeks with built up of long position. It is showing early sign of trend of reversal and looks attractive in terms of risk reward ratio.
Target: Rs 250
Stop Loss : Rs 230
It has taken multiple support near Rs 220-225 zone after the struggle of last 5-6 trading sessions. It negated the negativity of last two weeks with built up of long position. It is showing early sign of trend of reversal and looks attractive in terms of risk reward ratio.
AMBUJA CEMENTS: SELL
Target: Rs 187
Stop Loss : Rs 201
It fell towards its yearly low levels with built up of short and liquidation of long position. It broke its support of Rs 196 levels and has dull price behavior. It witnesses selling pressure at every small bounce back. We are expecting this behavior to continue which may drag it to Rs 187 and lower levels.
Target: Rs 187
Stop Loss : Rs 201
It fell towards its yearly low levels with built up of short and liquidation of long position. It broke its support of Rs 196 levels and has dull price behavior. It witnesses selling pressure at every small bounce back. We are expecting this behavior to continue which may drag it to Rs 187 and lower 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