(Also read the recommendation at Traders Corner)
Sharegyan suggests to buy Development Credit Bank around Rs 60.50 with a stop loss at Rs 59 and a target price of Rs 63.
The website, Technicalanalysisofstocks, has recommended to buy SKS Microfinance for the target price of Rs 615 and a stop loss at Rs 540.
Sharetipsinfo recommends sell Biocon below Rs 351 with a target price of Rs 340 and a stop loss at Rs 356.
Amit Harchekar, CMT, IIFL Private Client Group,IIFL, recommends the following stock for the day.
TCS: For this software giant the recommendation is to buy the stock for its bullish pattern with a target price of Rs 1,190 and a stop loss at Rs 1,130. TCS has seen a good bounce back from key support levels of 200 DMA on Tuesday trading session. On the weekly chart, the stock has been forming a 'Flag' which is a bullish consolidation pattern. Thus, it is likely to see buying momentum after a move past Rs 1,150 level.
BASF India: Here too the recommendation is for its breaking point with a target price of Rs 714 and a stop loss at Rs 654. BASF has signaled breakout from 'rounding saucer' pattern with surge in volume activity. The daily MACD has generated bullish crossover above the reference line corroborating strength in the up move. Currently, the stock price is attempting to test its all time peak of Rs
DLF: Sell this stock for its bearish sentiment. The target price for the stock is Rs 205 and a stop loss at Rs 227. The breakout from descending triangle turned out to be void after prices surged back below the support levels of Rs 225 with downward crossover in the daily RSI. The 50-DMA for the stock turns out to be a key pivot point, a move above or below Rs 224 will act as a trend decider.
NTPC: This stock too has a sell recommendation on it with a target price of Rs 175 and a stop loss at Rs 193. Breakdown from the 'rising wedge' pattern on the daily charts terminates the recent uptrend in the stock which began from its intermediate trough of Rs 165. Henceforth, the stock is expected to retrace 61.8% of the entire rally, providing a conservative target of Rs 175 in the coming days.
Bharti Airtel: The telecom stock has a sell recommendation with a target price of Rs 365 and a stop loss at Rs 395. The stock has retreated back after testing falling resistance on the weekly chart for the third time leading to formation of a 'triple top' pattern. The move below Rs 385 could aggravate further selling pressure towards Rs 365 in the near term.
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