Trading ideas from Anand Rathi: buy Apollo Hospitals, Power Grid, SKS Microfinance

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

APOLLOHOSPITAL : BUY

Target: Rs 1431

Stop Loss: Rs 1350

The stock has made multiple bottom near to Rs 1290-1300 zones and crossed its immediate hurdle of  Rs1370 levels. It has also surpassed its 50 DMA and holding the gains above a falling supply trend line on weekly chart. It also looks quite strong and better in terms of risk – reward ratio as just started its move after the consolidation of last nine weeks. One can buy the stock with stop loss of Rs 1350 for the upside target of Rs 1431 levels.
 

POWERGRID : BUY

Target: Rs 155

Stop Loss: Rs 144.50

The stock has been making higher top – higher bottom and hitting its fresh 52 weeks high after the long consolidation breakout above Rs 150 zones. It has seen fresh buying and follow up is also seen at higher levels which is keeping the momentum alive to take it to higher levels. One can buy the stock with stop loss of Rs 144.50 for the upside target of  Rs 155 levels.
 

SKSMICRO : BUY

Target: Rs 670

Stop Loss: Rs 630

The stock has been moving well from last five trading sessions and registered a fresh highs as trading at uncharted price territory. Overall trend is positive and momentum is quite strong which may continue this up move for next couple of trading sessions. It is trading higher with the fresh built up of long position and support are also shifting on higher side. Traders can buy the stock on a small decline with stop loss of Rs 630 for the upside target of Rs 670 levels.

 
AMBUJACEM : BUY

Target: Rs 223

Stop Loss: Rs 238

The stock has failed to cross its supply zones of Rs 234-237 zones and started to decline with fresh built up of short position. It has seen a strong recovery from Rs 208 to 234 but now loosing grip and momentum as finding hurdle at supply zones which may keep a pause in the recent trend for a profit booking decline. One can sell the stock with stop loss of Rs 238 for the downside potential target of Rs 223 levels.

 
Disclaimer: We are suggesting all these stocks to our clients but no personal holdings.

Chandan Taparia is a Derivatives Analyst - Equity Research at Anand Rathi