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SINTEX : BUY
Target: Rs 102
Stop Loss: Rs 91
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It has recently bottomed out at Rs 80 levels and support is continuously shifty to higher levels. Now Rs 91 is going to act as the major support for the stock. It has given highest daily close of last 12 trading sessions and also crossed the immediate hurdle of Rs 95 levels. We are recommending to buy the stock with the stop loss of Rs 91 levels for the upside target of Rs 102 levels.
SIEMENS : BUY
Target: Rs 1,233
Stop Loss: Rs 1,137
It has formed a Bullish Harami candle pattern on daily chart. It is showing the sign of trend reversal and showing the potential to bounce back in the positive territory. Recently, it corrected in the month august however now it has taken multiple support and looks attractive in terms of risk reward ratio. So, one can buy the stock with the stop loss of Rs 1,137 for the upside target of Rs 1,233 levels
LIC HOUSING FINANCE : BUY
Target: Rs 440
Stop Loss: Rs 402
It has given a breakout from the falling supply trend line and turning from the lower levels. It has taken multiple supports near to Rs 400-402 zones with fresh built up of long position. It looks attractive in terms of risk reward ratio as moving after the recent correction from Rs 512 to Rs 418 levels. Thus recommending to go long in the counter with the stop loss of Rs 402 for the upside target of Rs 440 levels.
ADANI PORTS : SELL
Target: Rs 308
Stop Loss: Rs 331
In the previous week it failed to cross Rs 374 levels and now it is forming lower top lower bottom formation from last seven trading sessions. It has formed a weak structure with built up of short position. It is under bears grip as it failed to recover with the broader market thus indicating further weakness in the counter. So, recommending selling the stock with the stop loss of Rs 331 for the downside target of Rs 308 levels.
Disclaimer : We are suggesting all these stocks to our clients but no personal holdings.
Chandan Taparia is a technical analyst with Anand Rathi Retail Research
