Trading tips from Anand Rathi: Buy Apar Inds, Voltas, Dish TV; Sell Ambuja Cements

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

APAR INDUSTRIES : BUY

It has started to move with rising trading volumes after a long accumulation of five weeks. It has registered highest daily close of last six weeks and looks strong to see an up move towards 467 levels. Thus recommending the traders to buy the stock with the stop loss Rs 428 for the upside immediate target Rs 467 levels.
 
VOLTAS : BUY

It has formed multiple bottoms near 245-250 zones and now the support has shifted to 265 zones. It is set to start an up move after the long consolidation of last 6 to 7 weeks as it has managed to hold its 50 DMA. Earlier it corrected from 359 to 243 zones and now moving upwards after an accumulation so looks strong even in terms of risk reward ratio. Thus recommending the traders to buy the stock with the stop loss Rs 276 for the upside immediate target Rs 300 levels.

DISH TV : BUY

It has recently taken support near to 103 levels and moving upwards with built up of long position followed by short covering activities. We have seen buying in most of the media counter and expecting dish TV to outperform and head towards 113 and 115 levels. Thus recommending the traders to buy the stock with the stop loss Rs 104 for the upside immediate target Rs 113 levels.
 
AMBUJA CEMENTS : SELL

It has recently failed to surpass the immediate hurdle of 215 and started to decline from last two trading sessions with built up of short and liquidation of long position. The stock has dull price behavior and witnesses selling pressure at every small bounce back. We are expecting this behavior to continue which may drag it to 204 and lower levels. So, one can sell the stock with the stop loss Rs 218 for the downside target Rs 202 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