Business Standard
Web Exclusive

Stock calls by Anand Rathi: Buy Aurobindo Pharma, FLFL, Ultratech Cement

Nifty outlook and top trading ideas by Jay Anand Thakkar, CMT - Assistant Vice President - Equity Research, Anand Rathi Shares, and Stock Brokers.

Jay Anand Thakkar  |  Mumbai 

Tata Investment Corp board approves Rs 4.5-billion share buyback

NIFTY: SELL

TARGET: 11,550

STOP LOSS: 11,750

Nifty was deep into negative territory on the F&O expiry day indicating that the trend is still negative to sideways. The index has reversed from the 78.6 per cent retracement of the previous fall; hence this bounce is a wave B bounce and wave C down is expected now. The minimum target on the lower side comes to 11,550 levels whereas the resistance is pegged at 11,750 levels.

AUROBINDO PHARMA: BUY

TARGET: Rs 830

STOP LOSS: Rs 780

The stock has provided a breakout from a symmetrical triangular pattern and the momentum indicator moving average convergence divergence (MACD) is well into buy mode on the daily, weekly as well as monthly charts.

FUTURE LIFESTYLE: BUY

TARGET: Rs 515

STOP LOSS: Rs 470

The stock has provided a breakout from the symmetrical triangular pattern which is a bullish reversal pattern. The wave e of the triangle seems to have gotten over and now wave 5 up seems to have started.

ULTRATECH: BUY

TARGET Rs 5,000

STOP LOSS: Rs 4,400

The stock has provided a breakout from the symmetrical triangular pattern which is a bullish reversal pattern. The stock seems to have completed its wave iv with that and wave v up seems to have started.

=============================

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

First Published: Fri, April 26 2019. 06:49 IST
RECOMMENDED FOR YOU