Top trading ideas by Anand Rathi Research: Buy Raymond, SAIL

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

NIFTY: BUY
TARGET: 11,550
STOP LOSS: 11,249
The Index closed in the negative territory in the last trading session, however, the last weekly close was quite positive and it had formed a “Hammer” candlestick pattern which is a bullish reversal pattern. On the lower side, 11,250 is a crucial support where on the upside minimum target comes to 11,550, hence we recommend maintaining long positions.

RAYMOND: BUY
TARGET: Rs 875
STOP LOSS: Rs 755
The stock seems to have completed a five wave declining structure on the weekly charts and a reversal from lower levels has happened. A minimum of 38.2% retracement of the entire fall is expected, hence in anticipation of a bounce one can buy for the target of 875 with a stop loss of 755.

SAIL: BUY
TARGET: Rs 83.50
STOP LOSS: Rs 75
The stock has formed a “Hammer” candlestick pattern on the weekly charts. It has also started to form higher tops and higher bottoms which is also a positive sign. The momentum indicator MACD is well in buy mode on daily charts as well as weekly charts, hence we recommend buying this stock.

AUROBINDO PHARMA: BUY
TARGET: Rs 830
STOP LOSS: Rs 769
The stock has provided a breakout from the downtrend line resistance with an increase in volumes and positive crossover in its momentum indicators which increases the probability of an upside.

Nifty outlook and top trading ideas by Devang Shah for today

NIFTY
CLOSE- 11680.50 (31.08.2018)
The market closed the 6th consecutive week in positive territory. It has extended further & achieved my revised short-term targets levels near recent high as expected last week. It made a high of 11,760.20 levels on Nifty & 38,989.65 levels on Sensex during the week. It looks like the first possibility of some consolidation in the market in the range of 11850- 11,400 levels on nifty in short-term before further trend resumes towards higher levels targets. Sustain above 11,850 levels will lead to a further extension of the rally towards 12,000 levels on nifty in short term. Any kind of short-term consolidation or correction is stock specific buying opportunity till short-term reverses.Stock Picks:

KOTAK BANK - BUY
CLOSE – Rs 1,284.75
TARGET – Rs 1,305-1325
KOTAK BANK closed the weekly in positive territory. It looks like the end of short-term correction. Its daily momentum indicators are in BUY. It is trading above 20DMA. One can BUY with a stop loss of Rs-1238 for the target of Rs 1305-1325 levels in short-term.

JSPL - BUY
CLOSE – Rs 220.70
TARGET – Rs 230-240
JSPL closed the weekly in positive territory. It looks like the end of short-term correction. It managed to hold 20 DMA. Risk Reward is favourable to BUY at current levels. Its daily momentum indicators are in BUY. One can BUY with a stop loss of Rs-203 for the target of Rs-230-240 levels in short-term.

DCB BANK - BUY
CLOSE – Rs 178.60
TARGET – Rs 186-196
DCB BANK closed the weekly in positive territory. It looks like the end of short-term correction. Its daily momentum indicators are in BUY. It closed above 20DMA. One can buy with a stop loss of Rs-169 for the target of Rs-186-196 levels in short-term.

RAYMOND - BUY
CLOSE – Rs 839
TARGET – Rs 875-925
RAYMOND closed the weekly in positive territory. It looks like the end of short-term correction. Its daily momentum indicators are in BUY. It is trading above 20DMA. One can buy with a stop loss of Rs-802 for the target of Rs 875-925 levels in short-term.

Top trading ideas by Anand Rathi Research: Buy Raymond, Bajaj Auto

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

NIFTY: BUY
TARGET: 11,653
STOP LOSS: 11,501
The Index closed in the positive territory in the last trading session and it has again formed a life time high. The Index after having broken 11,495 on the upside has confirmed the extension on the upside, hence the minimum equality target on the upside comes to 11,653 whereas on the lower side 11,501 becomes a crucial support.

RAYMOND: BUY
TARGET: Rs 830
STOP LOSS: Rs 755
The stock has formed a falling wedge pattern on the daily charts in the fifth wave of the five wave falling structure. A minimum of 23.6% to 38.2% retracement is expected and in that process the stock is expected to bounce back till 830 levels. The support on the lower side is pegged at 755 levels.

BAJAJ AUTO: BUY
TARGET: Rs 2,840
STOP LOSS: Rs 2,688
The stock has started to retrace the five waves declining structure with a buy crossover in its momentum indicator MACD. The minimum target on the upside comes to 2840 whereas the support on the lower side is pegged at 2688.

AUROBINDO PHARMA: BUY
TARGET: Rs 690
STOP LOSS: Rs 640
The stock has provided a breakout from the cup and handle pattern which is a bullish reversal pattern. The momentum indicator has also come into buy mode which is quite positive for the stock. So, we recommend buying this stock for the target of 690 with a stop loss of 640.