5 Short Term Trades

Short term calls are the buy/sell recommendations generated on the basis of technical and derivative data points with a trading horizon of 2-5 days. The objective is to capture stocks displaying strong momentum or a short-term reversal in trend. Short term calls will be generated in cash and F&O segments. The calls should be executed when the underlying price is quoting within the mentioned range.

1) Reliance Industries Limited –

Stock	Reliance Industries Limited
Recommendation	The stock has formed a large bullish engulfing candlestick pattern and has witnessed a strong bounce from its 200-day EMA backed by a surge in volumes. Derivative data indicates fresh long formation.
Buy/Sell	Range	Target	Stop Loss
Buy (Cash)	1100-1110	1325	960

2) Tata Power Company Limited –

Stock	Tata Power Company Limited
Recommendation	The stock is on the verge of a flag pattern breakout on the daily chart and has taken support along the rising trend line. It has also shown positive momentum on the weekly MACD histogram. Derivative data indicates fresh long formation in the stock.
Buy/Sell	Range	Target	Stop Loss
Buy(Cash)	75-76	91.5	65

3) ITC Ltd –

Stock	ITC Ltd
Recommendation	The stock has witnessed a positive bounce from its support levels on the weekly chart (89-period EMA). It has also managed to give a close above its 200-day EMA on the daily chart. Derivative data indicates fresh long positions in the stock.
Buy/Sell	Range	Target	Stop Loss
Buy (Cash)	Rs280-283	Rs324	Rs254