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Top trading ideas from Chandan Taparia of Anand Rathi

Here are a few trading strategies for today

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Chandan Taparia

Chandan Taparia  |  Mumbai 

Image via Shutterstock
Image via Shutterstock

BANK OF BARODA: BUY

Stop Loss: Rs 147

Target: Rs 156

The stock has given a consolidation breakout after crossing the previous hurdle of 147 levels after the narrow trading range of last three weeks. It registered a highest daily close of last fifty nine trading sessions with buying in all the Banking stock pre RBI policy on coming Tuesday. It managed to hold the support base and respecting to its 50 DMA from last nineteen trading sessions.

VOLTAS: BUY

Stop Loss: Rs 274

Target: Rs 295

The stock crossed and closed above the hurdle of 280 levels and has been making higher top- higher bottom formation from last thirty two trading sessions and also holding the gains above 50 DMA. It is also making higher highs from last five consecutive weeks and support base in continuously shifting to higher levels with rising trading volumes. It was holding quite strong on last session even after the profit booking in Nifty which indicates the stock has potential to outperform to the broader market.

INDIA CEMENTS: BUY

Stop Loss: Rs 84

Target: Rs 92

The stock crossed an immediate hurdle of 87.50 levels and witnessed built up of long position on the first day of the series with an open interest addition of around 4%. It has seen a rollover of around 91% from March series to April series indicating the longs are being carried in the counter. It has been making higher top –higher bottom formation from last five weeks and gave the highest daily close of last forty trading sessions.

GAIL: SELL

Stop Loss: Rs 364

Target: Rs 340

The stock failed to cross its multiple hurdle of 365-366 zones from last three consecutive weeks and is falling down from higher levels near to crucial supply zones. It has been continuously finding sustained supply and shorts are again getting grip in the counter.

Disclaimer: We are suggesting all these stocks to our clients but no personal holdings.

is a derivative analyst with Anand Rathi

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First Published: Mon, April 04 2016. 08:23 IST
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