Chart Check: M&M Finacial Services, Hero MotoCorp, Dabur, Tata Global Beverages

O Image via Shutterstock Image via Shutterstock Here are a few trading ideas from Chandan Taparia of Anand Rathi:

STOP LOSS: Rs 313.50
TARGET: Rs 337

The stock has given a breakout from its Bullish pole and flag pattern after the consolidation of last three weeks. It has surpassed its immediate hurdle of Rs 316 mark with a breakaway gap and rallied towards Rs 328 zones. It has seen strong move of more than 10% in last couple of sessions but still looks strong and momentum is intact to take it to higher levels. One can buy the stock with stop loss of Rs 313.50 for the upside target of Rs 337 levels.

STOP LOSS: Rs 2,905
TARGET: Rs 3,055

It has formed a decent bottom near to Rs 2,850 - Rs 2,870 zones and surpassed its crucial hurdle of 2,980 zones. It has also respecting to its 50 DMA and moved well in last two sessions with rising trading and delivery volumes. We have seen sustained buying in most the auto and now it’s time for this stock to catch the momentum and move towards next hurdle of Rs 3,055 - Rs 3,080 zones. One can buy the stock with stop loss of Rs 2,905 for the upside immediate target of Rs 3,055 levels.
STOP LOSS: Rs 284.50
TARGET: Rs 302

The stock has made a bottom near to Rs 275 - Rs 278 zones and has been moving upwards by crossing all its immediate hurdles. It has seen rollover of long position by 88% with better roll cost so momentum may continue on immediate basis for the first week of June series. One can buy the stock on a decline with the stop loss of Rs 284.50 for the upside target of Rs 302 levels.
STOP LOSS: Rs 123.50
TARGET: Rs 116

The stock has been falling down from last three trading sessions even after a monster rally in the broader market which clearly indicates its nervousness and grip of bears to drag it to lower levels. We have see fresh formation of short position as it failed to cross multiple hurdle of Rs 124 zones. One can sell the stock on a small bounce back move with stop loss of Rs 123.50 for the downside target of Rs 116 levels.

Disclaimer: We are suggesting all these stocks to our clients but no personal holdings.

Chandan Taparia is a Derivatives Analyst - Equity Research at Anand Rathi