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Stock calls by Anand Rathi: Buy PVR, Apollo Hospitals, United Breweries

Jay Anand Thakkar/Mumbai 14 Jun 19 | 06:39 AM

NIFTY: BUY 


TARGET: 12,020 

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STOP LOSS: 11,800


Nifty closed flat in the last trading session and it seems to have completed wave E on the lower side as it seems to have formed a running triangle pattern. Since, the trend prior to this was an uptrend, the probability of a breakout is on the upside. Hence, we recommend buying for the target of 12,020 with a stop loss of 11,800.


PVR: BUY 


TARGET: Rs 1,820 


STOP LOSS: Rs 1,680


The stock has formed a symmetrical triangular pattern on the daily charts and it has reversed from the lower end for the range; hence, the probability of an upside is quite high. The daily momentum indicator MACD (moving average convergence divergence) is in sell mode; however, the weekly MACD is still into buy mode. Therefore, we recommend buying this stock.


APOLLO HOSPITALS: BUY


TARGET: Rs 1,520 


STOP LOSS: Rs 1,300


The stock has provided a breakout from the falling channel and it has taken off its previous weekly swing high; hence, it appears to have provided a breakout in wave III of wave 5 up. The daily, weekly and monthly MACD is well in the buy mode.


UNITED BREWERIES (UBL): BUY 


TARGET: Rs 1,427 


STOP LOSS: Rs 1,314


The stock has formed an inverse head and shoulder pattern on the hourly charts with a clear buy crossover on its daily as well as hourly MACD. It has also reversed from the lower end of the sideways channel. Hence, we recommend buying this stock.


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

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