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Top trading calls by Anand Rathi: Sell Tata Chemicals, Capital First

Jay Anand Thakkar/Mumbai 12 Oct 18 | 06:30 AM

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Nifty outlook and top trading ideas by Jay Anand Thakkar, CMT -Assistant Vice President - Equity Research, Anand Rathi Research:

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NIFTY: BUY

TARGET: 10,100

STOP LOSS: 10,350


Nifty closed in the negative territory and it failed the double bottom pattern formed on the daily as well as hourly charts. The Index has also completed an A-B-C pullback on the daily charts which is also quite negative going forward. The minimum target on the lower side is pegged at 10100 and below those 9950 levels.


TATA CHEMICALS: SELL

TARGET: Rs 600

STOP LOSS: Rs 655


The stock has broken the triple top pattern on the daily charts with a sell crossover on its daily charts which is quite negative for the stock. The momentum indicator has also provided a sell crossover.


INDIABULLS HOUSING FINANCE: SELL

TARGET: Rs 780

STOP LOSS: Rs 990


The stock has formed a bearish triangular pattern and the wave E of the same seems to have gotten over. The momentum indicator MACD is already in sell mode, hence we recommend selling this stock.


CAPITAL FIRST: SELL

TARGET: Rs 430

STOP LOSS: Rs 490


The stock has formed a head and shoulders pattern on the daily charts with a negative divergence on the daily charts. So, we recommend selling this stock


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


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