6 trading stocks for short term gain

Vishal Malkan CMT,

Grasim Industries is a buy call. It has shown some good momentum on hourly charts along with price tagging the upper Bollinger band. The sector is already outperforming. I recommend a buy with a stop loss of Rs 2680 for target of Rs 2725 and Rs 2740.

Buy Tata Steel . It has formed a bullish candlestick pattern on daily charts. Hourly momentum is bullish with huge volumes. I recommend a buy with a stop loss of Rs 395 for targets of Rs 405 and 408.

Vishal Kshatriya of Edelweiss

First pick is short call on Axis Bank . Stock has given a trend line breakdown along with good volumes on daily charts. Momentum oscillators continue to trade with a negative bias. I expect stock to test Rs 950 in days to come and hence short term traders can short in a range of Rs 995 to Rs 1005 with target of Rs 950, maintaining stop loss above Rs 1030.

Short Kotak Mahindra Bank . Stock has given a trend line breakdown with good volumes on its daily charts. Besides this stock continue to trade below a short-term moving averages, which clearly indicates a negative trend in the counter. Open interest data indicates short buildup in the counter in previous trading sessions. I recommend traders to go short in a range of Rs 535-540 with target of Rs 510 and stop loss above Rs 555.

Sanjeev Agarwal of Dynamix Research & Capital Management

Buy Grasim Industries . Cement pack has been showing very good strength for last few days and Grasim is no exception. We can buy Grasim at current market price for a target of Rs 2750 to Rs 2790 with a stop loss below Rs 2660.

Buy Sesa Goa . We can buy this stock at current market price for a target of Rs 189 to 194 and stop loss below Rs 180.