Technical Calls by Zerodha: Buy Karnataka Bank, REC, PVR; Sell Dr Reddy’s

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New Delhi | Published: August 23, 2016 12:09:44 PM

Benchmark indices BSE Sensex and NSE Nifty after making a cautious start on Tuesday were trading marginally in red in late morning trade on account of selling in frontline blue chip counter

nifty bse nse sensexBenchmark indices BSE Sensex and NSE Nifty after making a cautious start on Tuesday were trading marginally in red in late morning trade on account of selling in frontline blue chip counter

Benchmark indices BSE Sensex and NSE Nifty after making a cautious start on Tuesday were trading marginally in red in late morning trade on account of selling in frontline blue chip counter ahead of a widely anticipated speech by the Fed chief at the central bank’s annual meeting in Jackson Hole scheduled on Friday. At 11.51 am, the 30-share index BSE Sensex was down 21.29 points, or 0.08 per cent, at 27,964.25, while Nifty was trading 4.25 points down at 8,624.90. In the 50-share index, HCL Technologies, Infosys and TCS were trading higher by 2.64 per cent, 2.09 per cent and 2.08 per cent. On the other hand, BHEL, BPCL, Bajaj Auto, ITC and State Bank of India were down by 3.61 per cent, 2.35 per cent, 1.44 per cent, 1.20 per cent and 1.12 per cent, respectively.

Meanwhile, Karthik Rangappa, vice-president, education services, Zerodha gave his technical calls for a horizon of 2-3 weeks. Rangappa is positive on Karnataka Bank, PVR and REC.

1) Karnataka Bank – Zerodha has ‘Buy’ on Karnataka Bank shares with a target price of Rs 164. Buy: Rs 155, Stop loss: Rs 150

2) Piramal Enterprises – Trader can buy the stock at Rs 1950 with stop loss of Rs 1900 for a target of Rs 2050.

3) Dr Reddy’s Labs – The brokerage house has ‘Sell’ on Dr Rell’s Labs shares at Rs 3000 with stop loss of Rs 3095. Target price: Rs 2,800

4) PVR Limited – One can buy PVR shares at Rs 177 with stop loss of Rs 1097 for a target of Rs 1225.

5) REC Limited – Brokerage has ‘Buy’ rating on REC Ltd. Trader can take position at Rs 231 with stop loss of Rs 220 and target price of Rs 247.

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