Top trading ideas from Anand Rathi: Sell ONGC, Vedanta
Here are a few trading ideas from Chandan Taparia of Anand Rathi:
 "Top trading ideas from Anand Rathi: Sell ONGC, Vedanta")
HIMATSINGKA SEIDE: BUY
Target: Rs 237
Stop Loss: Rs 212
It has been making higher top – higher bottom formation from last seventeen trading session even after consolidation in the broader market. It is heading towards its lifetime high territory with rising volumes and also registered second highest daily closing. It looks quite strong for the next move towards 237 then 250 zones.
Target: Rs 237
Stop Loss: Rs 212
It has been making higher top – higher bottom formation from last seventeen trading session even after consolidation in the broader market. It is heading towards its lifetime high territory with rising volumes and also registered second highest daily closing. It looks quite strong for the next move towards 237 then 250 zones.
MARUTI SUZUKI: BUY
Target:Rs 4,740
Stop Loss: Rs 4,460
It is holding its positive stance and consolidating in a range even after a profit booking decline in the broader market which indicates that the major trend of the stock is intact to positive. It is continuously taking support at its rising support trend line and has been respecting to its 50 DMA.
Target:Rs 4,740
Stop Loss: Rs 4,460
It is holding its positive stance and consolidating in a range even after a profit booking decline in the broader market which indicates that the major trend of the stock is intact to positive. It is continuously taking support at its rising support trend line and has been respecting to its 50 DMA.
ONGC: SELL
Target: Rs 224
Stop Loss: Rs 224
It witnessed a recovery from 222 to 240 zones in last two weeks but failed to surpass the hurdle of 240 mark. It negated the pattern of making higher highs - higher lows of last two weeks and dashed all the hopes of bottoming out. The overall structure of the stock is negative as it has been making lower top – lower bottom formation from last one year and it witnesses selling at every bounce with fresh built up of short position.
Target: Rs 224
Stop Loss: Rs 224
It witnessed a recovery from 222 to 240 zones in last two weeks but failed to surpass the hurdle of 240 mark. It negated the pattern of making higher highs - higher lows of last two weeks and dashed all the hopes of bottoming out. The overall structure of the stock is negative as it has been making lower top – lower bottom formation from last one year and it witnesses selling at every bounce with fresh built up of short position.
VEDANTA: SELL
Target: Rs 89
Stop Loss: Rs 97
It negated the pattern of making higher highs- higher lows of last three trading sessions and again landed in the hands of bears. It is witnessing call writing at 95 and 100 strikes with built up of short position. It is continuously finding hurdle near to its 50 DMA and has comparatively weak structure than other stocks of the same sector.
Target: Rs 89
Stop Loss: Rs 97
It negated the pattern of making higher highs- higher lows of last three trading sessions and again landed in the hands of bears. It is witnessing call writing at 95 and 100 strikes with built up of short position. It is continuously finding hurdle near to its 50 DMA and has comparatively weak structure than other stocks of the same sector.
Disclaimer : We are suggesting all these stocks to our clients but no personal holdings.
Chandan Taparia is a technical analyst with Anand Rathi
Chandan Taparia is a technical analyst with Anand Rathi