Trading Calls: Pidilite, Bata India & Tech Mahindra No ratings yet.

(1) Pidilite Industries: In the last trading session, the stock closed just below the support levels of 776-774 indicating forthcoming weakness. A distribution pattern on charts also signals a sell off in coming sessions. The stock can be sold below 767/- for lower levels.

Technical pattern: Distribution Pattern

Action

Trigger Price

Stop Loss

Target 1

Target 2

SELL <767 792 757 745

(2) Bata India: A Doji on charts and a strong rollovers in the last session suggest strong upmove in the counter.  The specific trading plan for the stock is as follows:

Technical pattern: EMA Crossover

Action

Trigger Price

Stop Loss

Target 1

Target 2

BUY >820 784 830 855

(3) Tech Mahindra:  In the last trading session, the stock witnessed a volatile session and closed positively with a strong Open Interest. The buy side momentum is expected to continue in the counter above 892/-.

Technical pattern: Fresh Breakout

Action

Trigger Price

Stop Loss

Target 1

Target 2

BUY >492 481 503 512

 


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Author: Traders' Chowk

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