 "Top trading ideas by Anand Rathi Shares: Buy Bandhan Bank, HCL Tech")
BUY BANDHAN BANK | TARGET: Rs 380 | STOP LOSS: Rs 330
The stock has witnessed a sharp correction from the peak of 425 towards 300 odd zone and has retraced more than 61.80 per cent from the mentioned levels. At current juncture, the stock is hovering just above the clusters of moving averages on daily chart and also the placement of rising trend on wide horizon depicts that the bullish stance may remain intact. On technical parameters, the 14 period RSI has witnessed positive crossover, affirming the bullishness in the counter.
BUY HCLTECH | TARGET: Rs 1,050 | STOP LOSS: Rs 905
The stock has been trading in secular up-trend and is in the cycle of higher highs and higher lows. On daily time frame, it is well placed above all its major moving averages and is all set to test its lifetime high zone. On oscillator front, MACD is comfortably placed above its signal-line and even the 14 period RSI has witnessed positive crossover, re-affirming the likelihood that the stock may surge higher in the near future.
BUY HINDUNILVR | TARGET: Rs 2,320 | STOP LOSS: Rs 2,080
The stock is placed in an upward trending channel on weekly time frame in which it is currently placed near the lower line -- historically, this has acted as a strong support base. Also, on daily time frame, the stock is hovering at the placement of 200-DEMA and 200-DSMA which might act as demand zone. In addition, the mean of the Bollinger is expected to act as a major support zone and bounce could be seen in near future.
Disclaimer: Osho Krishan is senior manager, equity research at Anand Rathi Shares & Stock Brokers. Views are personal
Disclaimer: Osho Krishan is senior manager, equity research at Anand Rathi Shares & Stock Brokers. Views are personal
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%