Chandan Taparia of Anand Rathi mentions trade on these stocks
There are following stocks to be bought which are recommended by Anand Rathi Brokerage :
ASHOK LEYLAND : BUY
Target: Rs 112.50
Stop Loss: Rs 104.50
It turned from most important support and now has the possible to head towards its recent high of 113 and even higher levels. The stock grasped a solid surge in the price after hitting a panic low near to 95 zones and exceeded immediate hurdle of 107 levels. It has crossed its 50% retracement zones of the previous fall and now well places to start the fresh rally. One can buy the stock with the stop loss of 104.50 for the upside target of 112.50 levels.
TATA STEEL : BUY
Target: Rs 338
Stop Loss: Rs 318
The stock has be able to hold the support of 320 near to its 50 day moving average. It has tested high of 337 which is a multiple hurdle of the counter. It has exceeded a falling supply trend line and reason being fresh buying may trigger the stock for higher zones. One can buy the stock on decline with the stop loss of 318 for the immediate target of 338 levels.
BHARAT FORGE: BUY
Target: Rs 776
Stop Loss: Rs 728
The stock has managed to negate its weak structure of making lower top – lower bottom and crossed its hurdle of 755 zones. It is turning from oversold territory so may witness a bounce back move and looks attractive in terms of risk – reward ratio. One can buy the stock with stop loss of 728 for the upside target of 776 levels.
GAIL : SELL
Target: Rs 366
Stop Loss: Rs 390
It has seen a failure in price with rising trading and open interest activities which also supports a negative sense for a profit booking decline. The stock has not success to surpass its multiple hurdle of 390-394 zones and started to decline with fresh built up of short position.It has also formed multiple tops at supply zones which may attract a decline towards 365 and lower levels. One can sell the stock on a bounce back move with the stop loss of 390 for the downside target of 366 levels.
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