ICICIBANK: BUY
Target: Rs 235
Stop Loss: Rs 217
The stock is moving up after a consolidation of ten trading sessions. It has been holding onto its support at around its 50 DMA and is also showing strength with all the banking counters to head towards Rs 235 and higher levels. It moved above its 13 weekly moving average and gave highest daily close of last thirty four trading sessions. We are suggesting buying the stock with stop loss of Rs 217 for an immediate target of Rs 235 levels.
NCC: BUY
Target: Rs 74.50
Stop Loss: Rs 69
The stock crossed and closed above the immediate hurdle of Rs 71 zones and registered a price volume breakout on daily chart. It witnessed a consolidation in last eight sessions after a positive price run from Rs 59 to 72 and now again it started to move after taking support at its 50 DMA which has bullish implication. Thus recommending to buy the stock with the stop loss of Rs 68 for the upside target of Rs 74.50 levels.
DISH TV: BUY
Target: Rs 85
Stop Loss: Rs 77
The stock has been making higher top – higher bottom formation from last fifteen trading sessions and surpassed its Rs 81-81.50 zones rising open interest activities. It registered a smart V- shaped recovery and is witnessing support base buying at every decline. One can buy the stock with stop loss of Rs 77 for the upside target of Rs 85 levels.
PIDILITE: SELL
Target: Rs 570
Stop Loss: Rs 610
The stock broke the support of Rs 590 levels and failed to sustain it positive stance even after the positive move witnessed in the broader market. It is turning hurdle of 610 levels and shorts are also being active in the counter. At its current price juncture it has formed a short term negative pattern and a further decline towards Rs 570 and lower levels cannot be ruled out. One can sell the stock with stop loss of Rs 610 for the downside target of Rs 570 levels.
Disclaimer : We are suggesting all these stocks to our clients but no personal holdings.
Chandan Taparia is a technical analyst with Anand Rathi.
Target: Rs 235
Stop Loss: Rs 217
Also Read
NCC: BUY
Target: Rs 74.50
Stop Loss: Rs 69
The stock crossed and closed above the immediate hurdle of Rs 71 zones and registered a price volume breakout on daily chart. It witnessed a consolidation in last eight sessions after a positive price run from Rs 59 to 72 and now again it started to move after taking support at its 50 DMA which has bullish implication. Thus recommending to buy the stock with the stop loss of Rs 68 for the upside target of Rs 74.50 levels.
DISH TV: BUY
Target: Rs 85
Stop Loss: Rs 77
The stock has been making higher top – higher bottom formation from last fifteen trading sessions and surpassed its Rs 81-81.50 zones rising open interest activities. It registered a smart V- shaped recovery and is witnessing support base buying at every decline. One can buy the stock with stop loss of Rs 77 for the upside target of Rs 85 levels.
PIDILITE: SELL
Target: Rs 570
Stop Loss: Rs 610
The stock broke the support of Rs 590 levels and failed to sustain it positive stance even after the positive move witnessed in the broader market. It is turning hurdle of 610 levels and shorts are also being active in the counter. At its current price juncture it has formed a short term negative pattern and a further decline towards Rs 570 and lower levels cannot be ruled out. One can sell the stock with stop loss of Rs 610 for the downside target of Rs 570 levels.
Disclaimer : We are suggesting all these stocks to our clients but no personal holdings.
Chandan Taparia is a technical analyst with Anand Rathi.
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