 "Top trading ideas from Chandan Taparia of Anand Rathi")
ASHOK LEYLAND : BUY
STOP LOSS: Rs 88.25
TARGET: Rs 95.50
The stock has managed to hold its long term positive stance even after selling pressure in the broader market. It is taking support at its 50 DMA and it has a tendency of turning from its support levels. It is holding above its previous hurdle of 91 levels and has the potential to head towards 95.50 and 99 levels in coming sessions. One can buy the stock with stop loss of Rs 88.25 for the upside target of Rs 95.50 levels.
STOP LOSS: Rs 840
M&M : SELL
STOP LOSS: Rs 1208
TARGET: Rs 1135
The stock has been falling down from last 2 series and witnessing selling pressure with lower top –lower bottom formation. It broke its strong support of 1180 levels which was working well from last three series and is continuously trading in bears grip. It has been witnessing built up of short position which has bearish implication for further declines. Traders can sell the stock with the stop loss of Rs 1208 for the downside target of Rs 1135 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
STOP LOSS: Rs 88.25
TARGET: Rs 95.50
The stock has managed to hold its long term positive stance even after selling pressure in the broader market. It is taking support at its 50 DMA and it has a tendency of turning from its support levels. It is holding above its previous hurdle of 91 levels and has the potential to head towards 95.50 and 99 levels in coming sessions. One can buy the stock with stop loss of Rs 88.25 for the upside target of Rs 95.50 levels.
Also Read
WELSPUN INDIA: BUY
STOP LOSS: Rs 840
TARGET: Rs 905
In has been consolidating in a range and witnessing sustained buying interest at every decline. It is taking support at its 50 DMA and is moving after the recent correction from 937 to 836 levels. It is showing early sign of momentum and has much strength to head towards recent peak levels. One can buy the stock with stop loss of Rs840 for the upside target of Rs905 levels.
'
NTPC: BUY
STOP LOSS:Rs 137
TARGET: Rs 145.50
The stock negated the negativity witnessed in last four trading sessions and took support near its 137 levels. However, it has been making higher top – higher bottom formation from last four series and observing built up of long position. The support base is shifting to higher levels even after weakness in broader market which also indicates positive placement of the stock. One can buy the stock with stop loss of Rs137 for the upside target of Rs145.50 levels.
In has been consolidating in a range and witnessing sustained buying interest at every decline. It is taking support at its 50 DMA and is moving after the recent correction from 937 to 836 levels. It is showing early sign of momentum and has much strength to head towards recent peak levels. One can buy the stock with stop loss of Rs840 for the upside target of Rs905 levels.
'
NTPC: BUY
STOP LOSS:Rs 137
TARGET: Rs 145.50
The stock negated the negativity witnessed in last four trading sessions and took support near its 137 levels. However, it has been making higher top – higher bottom formation from last four series and observing built up of long position. The support base is shifting to higher levels even after weakness in broader market which also indicates positive placement of the stock. One can buy the stock with stop loss of Rs137 for the upside target of Rs145.50 levels.
M&M : SELL
STOP LOSS: Rs 1208
TARGET: Rs 1135
The stock has been falling down from last 2 series and witnessing selling pressure with lower top –lower bottom formation. It broke its strong support of 1180 levels which was working well from last three series and is continuously trading in bears grip. It has been witnessing built up of short position which has bearish implication for further declines. Traders can sell the stock with the stop loss of Rs 1208 for the downside target of Rs 1135 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
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
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%