SHORT TERM TRADE IDEAS

Buy Infosys, DLF, hold Dabur; sell Engineers India: Sudarshan .

Sometimes we can have an intraday up move and a larger downtrend which is what is happening. So today for the short, for the day trader, I have two buy ideas. One is Infosys. In the morning also I had suggested that largecap IT stocks will outperform and we should be buying them. That theme continues in the midday. So Infosys is a buying opportunity. This is just intraday."

DLF which is bouncing back from the lows is also a buy. Again intraday only.

One short sell idea is Engineers India (EIL). It has been cracking, but please keep your trades only till the end of the day. Except for the index do not carry anything else forward.

Dabur India in the next three to six months should see an increase in prices. So my suggestion would be hold on to this, keep it as a long term investment. Even after six months you should be a winner here."

My view on LIC Housing Finance is fairly bearish. So for the next three to six months, I do not see any significant price gains. Prices will remain subdued.

Sell Britannia Industries, Bharti Infratel, Hindustan Unilever: Prakash Gaba

Britannia Industries is still weak. It is still typically sideways zone, there is selling pressure. Possible target on the downside could be Rs 4,450 in the short term. It is purely a trading play out here, it looks certainly weak to me and is trading on the lower side of the trade.

Bharti Infratel looks weak to me. There is a very good chance that the stock can see a slide to maybe around Rs 320 zones. Keep loss stop above Rs 344, just Rs 2, but that is what is needed."

Hindustan Unilever (HUL) is another stock that looks weak to me. There is very good chance that we can see a slide to levels closer to Rs 1,325. It is cracking, stop loss above Rs 1,360 on HUL should be fine.

Buy Put options in ACC, L&T Finance Holdings, ICICI Bank: VK Sharma

ACC, L&T Finance Holdings and ICICI Bank where investors need to protect. In ACC, I am suggesting to buy the 1,660 Put at around Rs 24, keep a stop loss at Rs 16 and target of Rs 40. Otherwise, we see the stock falling to around Rs 1,580, its 200-day support. So you can continue to hold on to these Puts that you buy.

L&T Finance closed below its 200-day moving average first time after April 2016. So this could also fall to around Rs 138. So, I am suggesting to buy the 155 Put at around Rs 4.5 or whatever the price is at the open, with stop loss at Rs 3 and target of around Rs 10.

ICICI Bank, is a stock which I hold, but definitely a stock where I would like to recommend buying Put at 330, buy around Rs 8, stop loss at Rs 5, target of Rs 15. This stock could take support only around 200-day moving average which is around Rs 297.

The stock that I want to buy is ICICI Prudential Life Insurance where the 200-day moving average, 20-day moving average, and the other moving averages also hover between Rs 415 and Rs 417. Yesterday, the 420 Call quoted at around Rs 15. So I am buying this, should it fall to Rs 13, with a stop loss at Rs 8 and target of around Rs 22. I don’t think this will break the 200-day moving average, this is one stronger stock among the other largecap stocks.

Sell Tata Chemicals, Can Fin Homes, BPCL; buy Tata Consultancy Services: Sudarshan Sukhani.

 However, the theme is that we should be looking to sell into most intraday rallies or even in the morning if there is even a brief rally. The short sells are much easier, a lot of midcaps have already cracked even before Friday.

Tata Chemicals is a short sell, there is a large head and shoulder pattern which is been confirmed on Friday, it is an intermediate downtrend which is starting, and that is happening everywhere.

Can Fin Homes was already in a bear market of its own. That should exaggerate and continue on the downside. That is a short sell.

BPCL is a short, this stock has been hammered earlier also and that decline continues. LIC Housing Finance is making new lows. So there is a theme which is that midcaps are now available even now for shorting.

The one buy is Tata Consultancy Services (TCS). Assuming that markets will open lower, the lower level is an attractive buying opportunity in the largecap IT and that is TCS for me today.

MORE WILL UPDATE SOON!!