Stock calls by Anand Rathi: Buy Hindustan Copper, Bharat Forge, Divi's Labs

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

NIFTY: BUY 

TARGET: 11,795 

STOP LOSS: 11,619

Nifty closed in the positive territory for the third consecutive session on Monday. The index has provided a breakout from the downtrend line resistance and with that wave four seems to have got over and wave five up seems to have started.

HINDUSTAN COPPER: BUY 

TARGET: Rs 54 

STOP LOSS: Rs 48.50

The stock has formed a symmetrical triangular pattern which is a continuation pattern. The momentum indicator moving average convergence divergence (MACD) has come well into the buy mode; hence, the probability of an upside has increased. Along with symmetrical triangular pattern, the stock has also formed an inverse