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Here are a few trading ideas from Chandan Taparia of Anand Rathi for trade today:
SIEMENS: BUY
Target: Rs 1380
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Stop Loss: Rs 1295
The stock surpassed the hurdle of Rs 1327 levels after the consolidation of last 13 trading sessions and gave a price volume breakout. It has been continuously taking support at its 13 EMA and trading well above its 50 and 200 DMA. The support base is also shifting higher in the stock as earlier the support was around Rs 1217 then the same shifted to Rs 1272 levels and now the support is at Rs 1295 levels. Thus one can buy the stock with the stop loss of 1295 for the upside immediate target of Rs 1380 levels.
BEML: BUY
Target: Rs 985
Stop Loss: Rs 925
The stock has bottomed out and crossed its hurdle of Rs 960 levels. It gave the highest daily close of last seventy one trading sessions. It is rising from last four weeks and set to surpass its falling supply trend line. Thus one can buy the stock with the stop loss of Rs 925 for the upside immediate target of Rs 985 levels.
VOLTAS: BUY
Target: Rs 346
Stop Loss: Rs 324
The stock gave breakout as it crossed the previous hurdle of Rs 333 levels and headed towards its 27 sessions high levels. It has been making higher highs - higher lows from last three weeks and rising higher. It witnessed built up of long position in previous session with open interest addition of around 13% in previous session alone. So, one can buy the stock with the stop loss of Rs 324 for the upside immediate target of Rs 346 levels.
APOLLO HOSPITALS: SELL
Target: Rs 1295
Stop Loss: Rs 1395
The stock has been continuously witnessing selling pressure and making lower highs – lower lows from last five trading sessions. It had failed to sustain above its multiple hurdle of Rs 1395-1400 levels and broke its support of Rs 1345-1350 levels. It has been witnessing built up of short position and added open interest by around 6% in previous session. One can sell the stock with stop loss of Rs 1395 levels for the downside target of Rs 1295 levels.
Disclaimer: We are suggesting these stocks to our clients but not personal holdings.
Chandan Taparia is a Derivatives Analyst - Equity Research with Anand Rathi
