Moneycontrol Be a Pro
Get App
Last Updated : Feb 14, 2017 10:09 AM IST | Source: CNBC-TV18

Buy Kotak Bank, Bharat Forge, Exide Industries: Chandan Taparia

Chandan Taparia of Anand Rathi Securities recommends buying Kotak Mahindra Bank, Bharat Forge and Exide Industries.


Chandan Taparia of Anand Rathi Securities told CNBC-TV18, "First trade is a buy on Kotak Mahindra Bank. The stock was under pressure but now has started to perform. It has formed a narrow range price pattern and also making a cup and handle pattern. So, expecting it to move 4 to 5 percent. I am looking for target of Rs 840, one can buy with a stop loss of Rs 771." 

"Second trade is buy on Bharat Forge, this stock has been holding the gains above Rs 1,000. The overall trend is positive, it is making higher tops higher bottom formation. We have seen built up of long position by around 8-10 percent in last couple of trading sessions and as per its price pattern, it is all set to head towards Rs 1,100-1,111 kind of levels. So, one can buy with a stop loss of Rs 1,005 for the upside target," he said. 

"The last trade is buy on Exide Industries. This stock has given a classical break out with significant jump in trading as well as the open interest activity. It has also formed a positive price structure. So, looking for a target towards Rs 230 and one can buy with a stop loss of Rs 209 levels."

The Great Diwali Discount!
Unlock 75% more savings this festive season. Get Moneycontrol Pro for a year for Rs 289 only.
Coupon code: DIWALI. Offer valid till 10th November, 2019 .
First Published on Feb 14, 2017 09:37 am
Loading...
Sections
Follow us on
Available On
PCI DSS Compliant