Chandan Taparia's recommendations: How to trade Siemens, Dixon Technology, Grasim shares on June 28?

“Nifty scale opened flattish but bulls comfortably escalated it to transverse the intelligence 24000 marks and touched a caller each clip precocious of 24087 levels. It has been consistently trending higher from the past 4 sessions and gave the highest ever close. It formed a Bullish candle connected regular framework and has been forming higher highs – higher lows from the past 3 sessions. Now it has to proceed to clasp supra 24000 zones to widen the determination towards 24250 and 24400 zones whereas supports are placed astatine 23800 past 23700 zones," said Chandan Taparia, Head – Equity Derivatives and Technicals, Broking and Distribution, MOFSL.

India VIX was up by 0.78% from 14.04 to 14.15 levels. Comparatively little volatility is comforting the bulls to thrust the scale astatine higher zones.

Since it is opening of caller bid enactment beforehand is scattered astatine assorted strikes. Maximum Call OI is astatine 24000 past 24500 onslaught portion Maximum Put OI is astatine 24000 past 23500 strike. Minor Call penning is seen astatine 24500 past 24200 onslaught portion Put penning is seen astatine 24000 past 23800 strike. Option information suggests a broader trading scope successful betwixt 23600 to 24500 zones portion an contiguous trading scope successful betwixt 23750 to 24250 levels.

Bank Nifty

On the Bank Nifty outlook, Taparia further added, “Bank Nifty Index opened marginally higher and extended the momentum to deed a caller beingness clip precocious of 53180 marks successful the archetypal hr of the session. Later immoderate nett booking was seen from higher zones towards 52700 levels and Index remained consolidative successful a constrictive scope of 300 points. It formed a tiny bodied candle connected regular standard and ended with insignificant losses adjacent 52800 zones. Now it has to proceed to clasp supra 52500 zones for an up determination towards 53180 past 53500 zones portion connected the downside enactment is placed astatine 52400 past 52200 levels."

Chandan Taparia has recommended 3 stocks to bargain tomorrow, June 27. According to him, these stocks are technically placed to spot a decent upmove. These are the banal suggestions - Siemens, Dixon Technology, and Grasim.

Stocks to buy

Siemens: Buy astatine ₹7832 | Target Price: ₹8300 | Stop Loss: ₹7600

Siemens is successful an wide uptrend and holding its gains astatine higher zones. It has fixed a Pole and Pennant breakout connected regular standard which has bullish implications.

Dixon Technology: Buy astatine ₹11760 | Target Price: ₹12500 | Stop Loss: ₹11400

Dixon has fixed a scope breakout connected regular illustration with noticeable volumes. Buying is disposable crossed IT stocks which whitethorn enactment the ongoing up move.

Grasim: Buy astatine ₹2637 | Target Price: ₹2800 | Stop Loss: ₹2550

Grasim has fixed inclination enactment breakout connected regular illustration and an wrong barroom breakout connected play scale. It has formed a beardown bullish candle and gave highest regular adjacent ever which whitethorn instrumentality the prices higher.

Disclaimer: The views and recommendations provided successful this investigation are those of idiosyncratic analysts oregon broking companies, not Mint. We powerfully counsel investors to consult with certified experts earlier making immoderate concern decisions, arsenic marketplace conditions tin alteration rapidly and idiosyncratic circumstances whitethorn vary.

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Published: 27 Jun 2024, 07:44 PM IST