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Top trading calls by Anand Rathi: Buy Colgate Palmolive, Jubilant FoodWorks

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 

Markets, Buy, Sell, Stocks

SELL

TARGET: 11,250

STOP LOSS: 11,430

has reversed its short-term trend from up to down with a sell crossover in its momentum indicator MACD. The index seems to have completed wave iii up and wave iv correction seems to have started. The minimum target comes at 11,250 which is the breakout retest level and the resistance is pegged at 11,430 levels.

SELL (India)

TARGET: Rs 1,190

STOP LOSS: Rs 1,254

The stock has provided a sell crossover in its daily as well as weekly momentum indicators. It has also broken the sideways channel on the lower side which is a bearish sign; hence the overall trend has reversed from up to down.

SELL

TARGET: Rs 680

STOP LOSS: Rs 729

The stock has broken the neckline of the bearish head and shoulders pattern on the daily charts. The momentum indicator MACD has provided a sell crossover which is also in favour of the bears.

BUY

TARGET: Rs 1,514

STOP LOSS: Rs 1,419

The stock has provided a clear breakout from a symmetrical triangular pattern with a clear buy crossover in its momentum indicators on the daily charts. With this breakout, the stock seems to have broken out from a downtrend line resistance as well which is a short term reversal.

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

First Published: Tue, March 26 2019. 07:56 IST
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