 "Trading strategies on Voltas, HUL, LIC Housing, Bharti Infratel: Anand Rathi")
Here are a few trading strategies by Chandan Taparia of Anand Rathi for trade today:
BUY VOLTAS: The stock gave a price volume breakout from the consolidation of last seven trading sessions. It was holding on the support base from last seven trading sessions even after the profit taking seen in the broader market and surpassed the hurdle of Rs 360 levels. So, one can buy the stock with the stop loss of Rs 345 levels for the upside target of Rs 370 levels.
BUY HINDUSTAN UNILEVER: The stock has been making higher top – higher bottom formation from last five trading sessions. Although it took a breather on Wednesday’s session but still managed to hold the support levels and snapped the entire loss made as on that date. It gave the highest daily close of last eighteen trading sessions. Thus recommending buying the stock with the stop loss of Rs 898 for the upside immediate target of Rs 955 levels.
BUY LIC HOUSING FINANCE: The stock was holding the gains above its support levels and negated the negativity of last two sessions. It witnessed built up of long position and also formed an attractive price structure. According to its current price placement it is set for a breakout towards Rs 536 and higher levels. Thus recommending buying the stock with the stop loss of Rs 505 for the upside immediate target of Rs 536 levels.
SELL BHARTI INFRATEL: the stock has been making lower top - lower bottom formation from last ten trading sessions and continuously witnessing selling pressure even. It broke its support of Rs 377 levels and drifted towards Rs 365 levels. It witnessed huge built up of short position with open interest addition of around 15% in last couple of trading sessions. So, one can sell the stock on bounce back move with the stop loss Rs 384 for the downside immediate target of Rs 360 levels.
Disclaimer: We are suggesting these stocks to our clients but no personal holdings
Chandan Taparia is Derivatives Analyst - Equity Research at Anand Rathi
BUY VOLTAS: The stock gave a price volume breakout from the consolidation of last seven trading sessions. It was holding on the support base from last seven trading sessions even after the profit taking seen in the broader market and surpassed the hurdle of Rs 360 levels. So, one can buy the stock with the stop loss of Rs 345 levels for the upside target of Rs 370 levels.
BUY HINDUSTAN UNILEVER: The stock has been making higher top – higher bottom formation from last five trading sessions. Although it took a breather on Wednesday’s session but still managed to hold the support levels and snapped the entire loss made as on that date. It gave the highest daily close of last eighteen trading sessions. Thus recommending buying the stock with the stop loss of Rs 898 for the upside immediate target of Rs 955 levels.
BUY LIC HOUSING FINANCE: The stock was holding the gains above its support levels and negated the negativity of last two sessions. It witnessed built up of long position and also formed an attractive price structure. According to its current price placement it is set for a breakout towards Rs 536 and higher levels. Thus recommending buying the stock with the stop loss of Rs 505 for the upside immediate target of Rs 536 levels.
SELL BHARTI INFRATEL: the stock has been making lower top - lower bottom formation from last ten trading sessions and continuously witnessing selling pressure even. It broke its support of Rs 377 levels and drifted towards Rs 365 levels. It witnessed huge built up of short position with open interest addition of around 15% in last couple of trading sessions. So, one can sell the stock on bounce back move with the stop loss Rs 384 for the downside immediate target of Rs 360 levels.
Disclaimer: We are suggesting these stocks to our clients but no personal holdings
Chandan Taparia is Derivatives Analyst - Equity Research at Anand Rathi
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%