Following technical calls have been recommended from short to medium term perspective by analysts at leading broking firms:
1. Idea Cellular - (Duration 4-5 weeks)
'Sell' the stock below Rs 94.10 for a target of Rs 86 with a strict stop loss placed above Rs 97.90
Yesterday, Idea Cellular has formed a Shooting Star Candle on the daily charts. The rally has exhausted in the overbought territory. On the oscillator's front; RSI & Stochastic are placed with a negative divergence on the hourly charts.
2. ITC (Duration 4-5 weeks)
'Buy' the stock at CMP and dips to Rs 276 for a target of Rs 305 with a strict stop loss placed below Rs 273.
Yesterday, ITC has formed an Engulfing Bullish Candle on the daily charts. However, the stock has witnessed a strong support near its previous resistance. On the oscillator's front; RSI & Stochastic are placed with positive crossover on the hourly charts.
Shilpa Stock Broker (SSBPL)
3. VIP Industries - (Duration 1 week)
'Buy' up to Rs 79 for target of Rs 85 with stop loss of Rs 76.50.
After flat opening stock has witnessed buying throughout the day and finally ended with "Long White Candle" a bullish candlestick pattern with strong volume on daily chart. 14 days RSI has also given positive cut to signal line and settled above equilibrium point.
RK Global Shares & Securities
4. Housing Development & Infrastructure (HDIL)-( Duration 2-3 days)
'Buy' above Rs 105 for a target of Rs 109 with a strict stop loss placed (on daily closing basis) Rs 103.
''The stock rebounded from its very short-term trend line support where its 30DEMA exists. It ended with a white body candle and closed at almost highest point of the day. It is in up-trend and trend following indicators MACD is still above zero line while RSI is trying to improve along with price. So, we recommend a cautious Buy in the script above Rs 105 for the immediate target of Rs 109.
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