Trading calls by Osho Krishan of Anand Rathi: Buy Eicher Motors, Exide

Eicher Motors' stock has been trading with a positive bias and is placed well above all its major exponential moving averages on the daily time frame

BUY EXIDE INDUSTRIES LTD | TARGET: Rs 200 | STOP LOSS: Rs 175

The stock has bounced from its 61.80 per cent Fibonacci retracement of the recent surge and has headed higher in the last trading session with a notable increase in the average traded volumes, indicating the formation of a strong base for the counter. The stock has managed to surpass its 200 DEMA in the last trading session, suggesting a reversal in the counter. Also, on the oscillator front, the 14-period RSI has witnessed positive crossover, affirming the overall bullish view in the near term.

BUY EICHER MOTORS LTD | TARGET: Rs 2,900 | STOP LOSS: Rs 2,570

The stock has been trading with a positive bias and is placed well above all its major exponential moving averages on the daily time frame. Recently, the stock tested the lower band of the Bollinger (20, 2) from where it has bounced and headed strongly towards the mean, suggesting inherent momentum. On the oscillator front, the 14-period RSI has seen a positive crossover in the last trading session, indicating bullishness in the counter.

BUY APOLLO TYRES LTD | TARGET: Rs 248 | STOP LOSS: Rs 215

The stock is in a secular uptrend and is in the cycle of higher highs, higher lows on the broader time frame. The stock is placed well above all its major exponential moving averages on the daily chart, indicating inherent strength. Recently, the stock corrected a bit towards the lower band of the Bollinger (20, 2) and has even rebounded towards the mean, indicating bullishness in the counter. Even the 14-period RSI affirms the secular uptrend in the counter in the near future.
Discalimer: Osho Krishan is senior manager - equity research at Anand Rathi Shares & Stock Brokers. Views expressed are personal