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Buy Cholamandalam Finance for a target of Rs 1,585: Anand Rathi Research

Nifty outlook and top trading calls from Jay Anand Thakkar ,CMT -Assistant Vice President - Equity Research, Anand Rathi Research

Jay Anand Thakkar  |  New Delhi 

Buy Cholamandalam Finance for a target of Rs 1,585: Anand Rathi Research

outlook and top trading calls from Jay Anand Thakkar, CMT -Assistant Vice President - Equity Research, Anand Rathi Research:

BUY

TARGET: 11,065

STOP LOSS: 10,910

seems to be consolidating in a regular flat pattern in its wave IV and once that is completed a wave V up will ensue. On the lower side, 10,910 is a crucial support hence one can buy with that as a stop loss for the target of 11,065 which is just below the recent swing high. The momentum indicators are well into the buy mode, thus increasing the probability of an upward breakout in its wave V

BUY

TARGET: Rs 354

STOP LOSS: RS 320

CANFINHOMES has formed a falling wedge pattern i.e. an ending diagonal pattern after a substantial fall. The momentum indicators on the daily charts are well in the buy mode with a positive divergence which is quite positive for the bulls in the short term.

BUY

TARGET: Rs 1,585

STOP LOSS: Rs 1,450

Cholafinance has formed a triangular pattern on the daily charts and the wave E of the same seems to have gotten over, hence we recommend to buy this as the momentum indicators too have provided a buy crossover.

BUY

TARGET: Rs 47.45

has formed a falling wedge pattern which is a bullish reversal pattern. The pattern is formed after a substantial fall; hence the probability of an upside increases. The momentum indicator is well in the buy mode, so recommend to buy

Disclaimer: The analyst may have positions in any or all the stocks mentioned above.

First Published: Fri, July 20 2018. 08:21 IST
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