In CNBC-TV18's popular show Bull's Eye, Independent Technical Analyst, Rakesh Gandhi shares his trading strategies for the day.
IRB Infrastructure Developers has seen sharp recovery from low and has managed to sustain above three-day close, indicating momentum could continue. Hence buy for a day target price of Rs 76.5 and keep a stoploss at Rs 72.25.
After almost seven months of consolidation, Indian Oil Corporation (IOC) is showing strength to start a higher top pattern if today it sustains above Rs 232. Hence in anticipation of breakout the stock can be bought for a day target price of Rs 244.75 and keep a stoploss at Rs 232.75.
Ipca Laboratories is likely to continue making new all-time high based on the price levels that is maintaining above Rs 800. There is strong possibility that it may see Rs 950 level in few months. Buy for a day target price of Rs 844 and keep a stoploss at Rs 805.
LIC Housing Finance has seen distribution above Rs 200 and due to weakness it closed below its support of Rs 195 on Thursday. Chart patterns are indicating that stock may see level of Rs 175 in few weeks. Hence, sell for a today target price of Rs 187.1 and keep a stoploss at Rs 196.
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