Business Standard
Web Exclusive

Top trading calls by Anand Rathi: Buy TCS, Axis Bank

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 and sell, shares, revenue, outlook

BUY NIFTY:

TARGET: 11,850

STOP LOSS: 11,620

The Nifty closed in the positive territory in the last trading session and with that it is expected to move towards the upper end of the range. The daily momentum indicator, however, is still in the 'sell' mode which may make the Index trade within the range of 11,550-11,850 levels. However, the trend prior to this breakout was up, hence the breakout is likely to be on the upside.

BUY ICICIPRULI

TARGET: Rs 390

STOP LOSS: 358

The stock has provided a breakout from the symmetrical triangular pattern and it has managed to close above this consolidation for the week.

The daily momentum indicator MACD however is still in sell mode, hence the probability of an upside is higher.

BUY TCS

TARGET: Rs 2,295

STOP LOSS: Rs 2,195

The stock has been forming higher tops and bottoms with the daily momentum indicator MACD continuing to be in 'buy' mode. The stock has provided from a larger consolidation i.e. an ascending triangular pattern and post that it has started wave 3 of wave 5. It is likely to form a new life time highs.

AXIS BANK

BUY TARGET: Rs 795

STOP LOSS: Rs 737

The stock seems to have completed a minor wave four correction and wave five up seems to have started. The daily momentum indicator MACD has also come to its zero reference line which is a positive sign, hence a reversal in the indicator is expected with the reversal in the price.


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

First Published: Tue, April 30 2019. 06:41 IST
RECOMMENDED FOR YOU