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Top trading calls by Anand Rathi: Sell MRF, ACC and Bharti Airtel

Jay Anand Thakkar/Mumbai 14 May 19 | 06:44 AM

NIFTY: SELL 


TARGET: 10,975 

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STOP LOSS: 11,258


Nifty closed in the negative territory on Monday for the ninth consecutive session and with that it has been continuously forming lower tops and lower bottoms. The momentum indicator is deeply in the negative territory on the daily, weekly and monthly charts. The index seems to have formed and expanded flat pattern and with that, wave C down seems to have started. The conservative short term target comes at 10,975 and the stop loss for the same is seen at 11,258.


MRF: SELL 


TARGET: Rs 51,670 


STOP LOSS: Rs 54,135


The stock has completed a three wave rise in its wave 4 and now wave 5 seems to have started. The daily and weekly momentum indicator MACD (moving average convergence divergence) is in sell mode. The wave 5 seems to have started and the minimum target comes at Rs 51,670, whereas the resistance is pegged at Rs 54,135.


ACC: SELL 


TARGET: Rs 1,503 


STOP LOSS: Rs 1,614


The stock has provided a breakout from the bearish head and shoulders pattern which is a bearish reversal pattern. The stock has provided a sell crossover on its daily MACD; hence, we recommend selling for the target of Rs 1,503 with a stop loss of Rs 1,614.


BHARTI AIRTEL: SELL 


TARGET: Rs 289 


STOP LOSS: Rs 330


The stock has formed a bearish wedge pattern on the daily charts and with that the daily momentum indicator MACD is in sell mode; hence, we recommend selling this stock as it offers good risk to reward ratio.


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

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