Trading ideas: Buy KEC International, Lupin, Tech Mahindra; Sell Ambuja Cements

Here are a few stock trading ideas from Chandan Taparia of Anand Rathi Research

KEC INTERNATIONAL : BUY

Target: Rs 148

Stop Loss: Rs 134

It has been making higher top- higher bottom formation from last four weeks and holding the gains above 50 DMA from last five trading sessions. It is also making higher lows from last five trading sessions and support base is continuously shifting to higher levels. So we are recommending to buy the stock with stop loss of Rs 134 for the upside immediate target of Rs 148 levels.


LUPIN : BUY

Target: Rs 1,894

Stop Loss: Rs 1,765

It has been consolidating from last five weeks and holding the support base even after the volatile market scenario. It is defensive as well as a strong counter which is continuously holding the support and is well placed to start fresh rally towards Rs 1894 and the higher levels. Recently it has taken multiple supports near to Rs 1755 and 1785 zones. Thus recommending to buy the stock with the stop loss of Rs 1,765 for the upside target of Rs 1,894 levels.

 

TECH MAHINDRA : BUY

Target: Rs 556

Stop Loss: Rs 518

It has rallied well in last two series and has now entered into the consolidation phase. Overall the longs are intact in the counter and after the recent consolidation it is well placed to see the next round of momentum towards Rs 556 and higher levels. Thus traders can go long in the stock with stop loss of Rs 518 for the upside target of Rs 556 levels.

 

AMBUJA CEMENTS : SELL


Target: Rs 198

Stop Loss: Rs 215

It failed to cross its multiple hurdles of Rs 222-225 zones and corrected from Rs 260 to 202 levels. It is falling from last five series and has a weak price structure and also broken immediate support of Rs 206-205 levels. It is hovering near the 52 weeks lows and holding below Rs 206 may drag it to lower levels. It is also adding fresh built up of short position and may slide towards Rs 198 and lower zones. Traders can sell the stock with stop loss of Rs 215 for the downside target of Rs 198 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