Hot stocks for today: Century Textiles, Siemens, Glenmark Pharma

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CENTURY TEXTILES:  BUY

STOP LOSS: Rs 685

TARGET: Rs 729

It has taken support near to 645-650 zones and given a strong recovery by crossing its 50 DMA. It has also surpassed a falling supply trend line on daily chart and holding above 700 may take it to 730 and even higher levels. One can buy the stock with stop loss of 685 for the upside target of 729 levels.

 

SIEMENS: BUY

STOP LOSS: Rs 1,395

TARGET: Rs 1,464

It is quite strong compare to market and other stocks of the same sector. It usually takes support near to 50 DMA and moved to higher levels. Recently it has taken support near to 1,395-1,400 zones and also adding fresh delivery volumes. It looks strong and all set to start the next leg of rally. Traders can buy the stock with stop loss of 1,395 for the upside target of 1,464 levels.

GLENMARK PHARMA: BUY

STOP LOSS: Rs 1,122

TARGET: Rs 1,191

It has been making higher highs higher lows and trading near to life time high levels. It has added fresh long position and also moving upwards with rising trading volumes. We are expecting this momentum to continue for next coming sessions. So recommending to trade long with stop loss of 1,122 for upside target of 1,191 levels.

 

HINDALCO: SELL

STOP LOSS: Rs 93.25

TARGET: Rs 86.50

The stock is continuously trading in bear grip from last one year and witnessing sustained selling pressure at every small bounce back move. It is trading at one year low levels and has been making lower top lower bottom formation. It has added huge short positions with shorts rollover from one series to next series and it has also broken important support of 100 and 90 levels. One can sell the stock with stop loss of 93.25 for the downside target of 86.50 levels.

Disclaimer: We are suggesting all these stocks to our clients but there is no personal holding

Chandan Taparia is a technical analyst with Anand Rathi Retail Research

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