LT Foods, HDFC Life, Easy Trip and JK Paper: Here are trading strategies for these 4 stocks

A few analysts have come out with their traing strategies on four stocks namely LT Foods, HDFC Life, Easy Trip and JK Paper. Technical charts hint at buying opportunities for Easy Trip, HDFC Life and JK Paper. Trade setup for HDFC Life looks weak, said one analyst.

LT Foods | Buy at Rs 120 | Target Rs 136 | Stop loss Rs 109 (Timeframe: 2-4 weeks)

LT Foods is in strong bullish momentum, where it has created a strong base at the 100-DMA after a profit booking. It is resuming its bullish momentum with a breakout of the horizontal hurdle of Rs 118, which coincides with its 50-DMA. The momentum indicator RSI has also moved above the 50 mark with a positive crossover, whereas MACD is also witnessing a centerline crossover. On the upside, Rs 127 level is an immediate hurdle for the stock and Rs 136 is the next target level.

Santosh Meena, Head of Research, Swastika Investmart Ltd

HDFC Life | Sell HDFC Life at Rs 580 | Target Rs 559 | Stop loss Rs 588

The stock price action showed a breakdown from the rising flag pattern, which indicates bearishness on the counter. After forming a top at Rs 600 level, the stock price formed a lower top, which adds further to the bearish momentum. Although the stock price is moving far above the multiple moving averages, 50-day and 100-day MAs are below the 200-day MA that suggests there can be a down move in the near term. The relative strength index (RSI) which is a lead indicator, is indicating a negative divergence, which is further adding to the bearishness. A breakdown from the rising flag and negative divergence on RSI indicates a potential down-move by close to 3.6 per cent. Thus, the price set-up makes it attractive to sell at Rs 580 with a favourable risk-reward ratio.

Foram Chheda, CMT is a Technical Research Analyst and founder of chartanalytics.co.in.

JK Paper | Buy | Target Rs 460 | Stop loss Rs 405 (Timeframe: 2-4 weeks)

The overall structure for JK Paper is bullish, which is resembling its 100-day moving average. On the daily chart, it is breaking out of a bullish Cup and Handle formation that may lead to a fresh expansion phase. On the upside, the previous swing high of Rs 450 is the immediate hurdle, followed by Rs 470 . On the downside, the 20-DMA of Rs 413 provides the immediate support, while Rs 390 provides significant support at any profit booking. The momentum indicators RSI and CCI are positively poised to support the current strength.

Santosh Meena, Head of Research, Swastika Investmart

Easy Trip Planners Target Rs 73| Stop loss Rs 50 (Time frame 1 month)

Shares of Ease Trip Planners have been under pressure since quite some time, but at this juncture they are trading near support levels. Previously, the stock turned from the level and we saw a rally towards Rs 73. On the houly chart, the stock is making an N wave, which is looking lucrative. Traders are advised to go long on the stock with a stop loss of Rs 50.

Anand Rathi Share & Stock Brokers

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