On a Friday when Indian equity benchmarks drifted modestly higher without leaving the ground they had held all week, a handful of market technicians looked past the quiet tape and sketched the next few sessions in chart lines. Their short-term buy and sell calls, spanning stocks from IFCI and ACME Solar to Reliance and Sun Pharma, are the familiar ritual by which markets try to turn patterns of past prices into expectations for the days ahead. Whether these readings prove wise will be settled only by the prices that follow, and by where each stop-loss line holds.
Analysts' September 7 trade picks: buy calls on IFCI, Balaji Amines, ACME Solar; Sun Pharma sell
Nine buys, one sell, and a stop-loss attached to every call
Mark
Ten calls, three analysts. What ties them together?
Mimi
Charts, entirely. Breakouts, moving averages, RSI and MACD signals. None of it is about earnings or business news.
Mark
And the backdrop?
Mimi
A quiet Friday. Benchmarks closed moderately higher, with 1,808 advancing shares against 1,433 declining on the NSE, and the expectation is more range-bound trading.
Luke
Worth saying that expectation is the analysts' view, not a fact. The article doesn't show how they reached it.
Mark
Why does every call come with a stop-loss?
Mimi
It marks where the idea is wrong. IFCI's is Rs 95, Sun Pharma's is Rs 1,940. Those levels are the real test of each call.
Luke
Also, nine are buys and only one is a sell, and these are single analysts' targets. Nothing here says how often such calls work out.
Mark
Anything unusual in the Sun Pharma call?
Mimi
It's on September futures, not the stock itself, and it's the only bearish one.
Luke
And the piece carries a disclaimer that these are the experts' views, not Moneycontrol's.
El Pulso
- Benchmarks closed modestly higher on September 4 but never broke out of their range, leaving traders waiting for a catalyst.
- Breadth leaned positive, with 1,808 shares advancing against 1,433 declining on the NSE, hinting at quiet confidence beneath the surface.
- Analysts from Axis Securities, Angel One and Teji Mandi are pressing buy and sell calls on IFCI, Balaji Amines, ACME Solar, Wockhardt, Reliance and Sun Pharma, each tied to chart breakouts.
- Every call carries a stop-loss, and the first real test is whether IFCI, Balaji Amines and Reliance hold above their floors as the new week unfolds.
- Sun Pharma's bearish flag breakdown stands as the lone short, and its outcome will show whether the cautious view or the broader upward tilt wins the week.
On a Friday when Indian equity benchmarks drifted modestly higher without leaving the ground they had held all week, a handful of market technicians looked past the quiet tape and sketched the next few sessions in chart lines. Their short-term buy and sell calls, spanning stocks from IFCI and ACME Solar to Reliance and Sun Pharma, are the familiar ritual by which markets try to turn patterns of past prices into expectations for the days ahead. Whether these readings prove wise will be settled only by the prices that follow, and by where each stop-loss line holds.
On Friday, September 4, Indian equity benchmarks finished moderately higher in a session that stayed close to its opening range. On the NSE, 1,808 shares advanced and 1,433 declined. With the market expected to keep trading within last week's range, several analysts used that calm to issue short-term calls built on charts, moving averages and momentum indicators.
Rajesh Palviya of Axis Securities put forward three buys. IFCI, at Rs 101.38, cleared a resistance zone on heavy volume and sits above its key moving averages, with targets of Rs 112 and Rs 127 and a stop at Rs 95. Balaji Amines broke out of a flag formation with rising volume, targeting Rs 2,610 and Rs 2,720 with a stop at Rs 2,430. Central Mine Planning & Design Institute cleared a down-sloping trendline on huge volume, with targets of Rs 255 and Rs 263 and a stop at Rs 238.
Hitesh Rathi of Angel One offered three more. ACME Solar, at Rs 418, broke out of consolidation and gained support from a Point & Figure double top signal, with targets of Rs 480 and Rs 500. Wockhardt, after two months of consolidation, showed a price-volume breakout and a Renko pattern, aiming for Rs 2,300 to Rs 2,350. Indraprastha Gas, at Rs 158, showed early signs of reversing a long downtrend, with a target of Rs 175 to Rs 180.
Jatin Gedia of Teji Mandi covered Reliance, Tata Communications and Sun Pharma. Reliance formed a double bottom and printed a bullish weekly engulfing candle on its heaviest volume in ten weeks, targeting Rs 1,377 and Rs 1,406. Tata Communications, having retraced to a key Fibonacci level, showed a fresh positive MACD crossover with a target of Rs 1,863. The lone sell was Sun Pharma's September futures, where Gedia saw rejection at resistance and a breakdown from a bearish flag, targeting Rs 1,793 with a stop at Rs 1,940.
All of these are the analysts' own views. The stop-loss levels will reveal first whether these breakouts are real.
On Friday, September 4, Indian equity benchmarks finished moderately higher after a session that never strayed far from where it started. Breadth was on the positive side: on the NSE, 1,808 shares advanced while 1,433 declined. Heading into the new week, the expectation is that the market will keep trading inside the range it set the week before, and a set of analysts have used that backdrop to put out short-term calls.
Rajesh Palviya, head of research at Axis Securities, has three buy ideas. IFCI, at Rs 101.38, closed above a resistance zone of Rs 90-93 on the weekly chart, on heavy volumes. He reads that as a resumption of the earlier uptrend. The stock sits above its 20-, 50-, 100- and 200-day moving averages, and the RSI is favourable on daily, weekly and monthly charts. His targets are Rs 112 and Rs 127, with a stop-loss at Rs 95.
Balaji Amines, at Rs 2,525.2, closed above Rs 2,455 on the weekly chart, breaking out of a flag formation as volumes rose. The same moving-average and RSI picture applies. Palviya's targets are Rs 2,610 and Rs 2,720, with a stop at Rs 2,430. His third pick, Central Mine Planning & Design Institute at Rs 243.92, broke out of a down-sloping trendline at Rs 241 on the daily chart, on huge volumes. He sets targets of Rs 255 and Rs 263 and a stop-loss of Rs 238.
Hitesh Rathi, technical analyst at Angel One, offers three more. ACME Solar Holdings, at Rs 418, broke out of a consolidation on Friday, which he says cooled overbought indicators and gives a reasonable entry. A Double Top Buy breakout on the Point & Figure chart backs the view. He recommends buying around Rs 419-415, with targets of Rs 480 and Rs 500 and a stop-loss of Rs 383.
Wockhardt, at Rs 2,088.7, has spent two months consolidating after a short-term blip. Rathi points to a price-volume breakout, Point & Figure support near Rs 1,850 and a multi-brick breakout on the 3% Renko chart. He suggests buying around Rs 2,088-2,080, with a stop at Rs 1,769 and a target of Rs 2,300-2,350. Indraprastha Gas, at Rs 158.04, he sees as showing early signs of reversing a long downtrend, citing a Bullish Pattern Retest followed by a Bullish Bear Trap, a breakout from its consolidation range and a trendline breakout on the 14-day RSI. His call is to buy around Rs 158-157, with a stop-loss of Rs 144 and a target of Rs 175-180.
Jatin Gedia of Teji Mandi Investment Technologies covers Reliance Industries, Tata Communications and Sun Pharma. Reliance, at Rs 1,322, formed a double bottom near Rs 1,250 after the July low of Rs 1,249.80, then corrected to the 61.8% retracement at Rs 1,272. Last week it began what he labels Wave 3 or Wave C, and it printed a weekly Engulfing Bull candle with its highest volume in ten weeks. He targets Rs 1,377 and Rs 1,406, with a stop-loss of Rs 1,300.
Tata Communications, at Rs 1,756.1, retraced to Rs 1,645, the 61.8% level of its rally from Rs 1,322 to Rs 2,110, and has since made higher highs and higher lows. A fresh positive MACD crossover supports a target of Rs 1,863, with a stop at Rs 1,695.
The lone sell is Sun Pharma's September futures, at Rs 1,903.5. Gedia notes lower highs and lows, rejection at the 50% retracement near Rs 1,962, a break from a bearish flag and a negative MACD crossover. He targets Rs 1,793, with a stop-loss of Rs 1,940. All of these are the analysts' own views, and the stop-loss levels are the first thing to watch to see whether the breakouts hold.
Citas Notables
IFCI closed above a Rs 90-93 resistance zone on huge volumes, indicating a resumption of the prior uptrend.— Rajesh Palviya, Axis Securities
Sun Pharma broke down from a bearish flag and a negative MACD crossover signals a decline.— Jatin Gedia, Teji Mandi Investment Technologies
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