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Top trading ideas by CapitalVia Global Research: Buy Adani Green, Thermax

Technical calls by Gaurav Garg, Head of Research, CapitalVia Global Research Limited- Investment Advisor

Gaurav Garg  |  Mumbai 

Top trading ideas by CapitalVia Global Research: Buy Adani Green, Thermex

Nifty View

Nifty has been near 11,900 level. From the last four sessions, however, it is making newer highs and has closed at 11,913. In Wednesday’s trade the index demonstrated a range bound movement within 11,880 and 11,950 levels. Moving forward, we are expecting a bullish movement of Nifty towards 12,000 and the level of 11,900 will continue remain support.

Stock recommendation

BUY ADANI GREEN

CMP: Rs 52

Target: Rs 65

Stop Loss: Rs 44

The stock is in a continuous bullish trend. The level above 52 would also result into a multiple breakout on the charts as there is no real resistance above 52. Moving average and Oscillator setup is bullish on the short- and medium-term charts.

Considering this technical evidence, we recommend buying the stock at CMP for the target of Rs 65,

keeping a stop loss at Rs 44 on closing basis.

BUY THERMAX

CMP: Rs 1050

Target: Rs 1150

Stop loss: Rs 1030

Thermax has remained resilient in the recent past. The scrip is above all important moving averages. Considering this technical evidence, we recommend buying the stock at CMP for the target of Rs 1,150, keeping a stop loss at Rs 1,030 on closing basis.

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Disclaimer: The analyst does not hold positions in any of the stocks mentioned above.

First Published: Thu, July 04 2019. 07:40 IST
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