 "Top trading ideas from Chandan Taparia of Anand Rathi")
TCS: BUY
Stop loss: Rs 2330
Target: Rs 2480
It has recently made a Bullish Engulfing pattern on weekly chart and turned from extremely oversold price territory. It has been holding the gains and managed to surpass immediate hurdle of Rs 2390 levels. It looks attractive for a short term bounce back move after the weakness of last 10 weeks. We are suggesting to buy with strict stop loss of Rs 2330 levels for an upside target of Rs 2480 levels.
Stop loss: Rs 464
Target: Rs 490
It is in process to complete a Morning Star price pattern with a Doji candle on weekly chart. It has recently taken support near to 450-452 zones and has been making higher highs – higher lows from last four trading sessions. It has given the highest daily close in last ten trading sessions and respecting to its 50 DMA which also indicates an inherit strength in the counter. One can buy the stock on small decline with for the upside target of Rs 490 levels.
SUN PHARMA : BUY
Stop loss: Rs 760
Target: Rs 805
It is slowly moving upwards from last four weeks and managed to cross its multiple hurdle of 782-784 zones. It witnessed a sharp fall in November series with built up of short position and now the way it has been holding the support zones may attract for a short covering bounce towards 805-820 zones on immediate basis. One can buy the stock on a small decline with stop loss of Rs 760 for the upside target of Rs 805 levels.
PNB : SELL
Stop loss: Rs 126.50
Target: Rs 117
It has been falling down from last twelve trading sessions and not ready to recover even after the recovery in the broader market. Major trend of the stock is in pressure and shorts are intact in the counter. We are expecting this weakness to remain intact after a small bounce back move so suggesting to sell on rally with a stop loss of Rs 126.50 levels for the downside target of Rs 117 levels.
Disclaimer : We are suggesting all these stocks to our clients but no personal holdings.
Stop loss: Rs 2330
Target: Rs 2480
It has recently made a Bullish Engulfing pattern on weekly chart and turned from extremely oversold price territory. It has been holding the gains and managed to surpass immediate hurdle of Rs 2390 levels. It looks attractive for a short term bounce back move after the weakness of last 10 weeks. We are suggesting to buy with strict stop loss of Rs 2330 levels for an upside target of Rs 2480 levels.
Also Read
LIC Housing Finance :BUY
Stop loss: Rs 464
Target: Rs 490
It is in process to complete a Morning Star price pattern with a Doji candle on weekly chart. It has recently taken support near to 450-452 zones and has been making higher highs – higher lows from last four trading sessions. It has given the highest daily close in last ten trading sessions and respecting to its 50 DMA which also indicates an inherit strength in the counter. One can buy the stock on small decline with for the upside target of Rs 490 levels.
SUN PHARMA : BUY
Stop loss: Rs 760
Target: Rs 805
It is slowly moving upwards from last four weeks and managed to cross its multiple hurdle of 782-784 zones. It witnessed a sharp fall in November series with built up of short position and now the way it has been holding the support zones may attract for a short covering bounce towards 805-820 zones on immediate basis. One can buy the stock on a small decline with stop loss of Rs 760 for the upside target of Rs 805 levels.
PNB : SELL
Stop loss: Rs 126.50
Target: Rs 117
It has been falling down from last twelve trading sessions and not ready to recover even after the recovery in the broader market. Major trend of the stock is in pressure and shorts are intact in the counter. We are expecting this weakness to remain intact after a small bounce back move so suggesting to sell on rally with a stop loss of Rs 126.50 levels for the downside target of Rs 117 levels.
Disclaimer : We are suggesting all these stocks to our clients but no personal holdings.
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