Top trading ideas by Anand Rathi for today: Buy Apollo Hospitals and Lupin

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

Nifty is still trading is this 10,600 to 10,900 range and only when it provides breakout or breakdown  from this range  it will lead to further trend. This week being an expiry week there is a very high probability that an market provides breakout or breakdown from this range. Hence, we recommend buying above 10,900 or selling below 10,600.

APOLLO HOSPITALS - BUY 

Target: Rs 1,088 

Stop loss: Rs 1,008

APOLLO HOSPITAL has clearly formed five wave rising structure on the daily charts. The stock has retraced nearly 50% of its 5 wave rising structure in an expanded flat pattern. The daily as well as hourly momentum indicators are in buy mode which indicate that the probability of next five wave rise is very high. Hence, we recommend buying APOLLO HOSPITALS.

LUPIN- BUY 

Target: Rs 935

Stop loss: Rs 900

LUPIN has provided breakout from a bullish flat pattern on the daily charts the momentum indicators are in buy mode on daily as well as hourly charts.  Hence, we recommend buying LUPIN

BALRAMPUR CHINI- BUY 

Target: RS 62

Stop loss: Rs 68

BALRAMPUR CHINI has provided breakdown form a symmetrical triangle pattern on daily charts which is quite negative for the stock going forward. The momentum indicators are also in the sell mode. Hence we recommend sell on this stock.

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