[Premium] Actionable Large-Cap Stocks

This post is going to be formatted similarly to the ones referenced above in that I'll list all the long opportunities, then the short ones. Not only does this exercise provide us individual trade setups, it also shows us what sectors of this market are showing relative strength and which are showing relative weakness. I think you won't be surprised by the results, as they appear to be a continuation of many of the trends we've been discussing.

Longs:

We want to be buying this breakout to new all-time highs in Axis Bank. As long as prices are above 592, we want to be long with a target of 864.

Bajaj Finance Ltd. is a stock we want to be buying on weakness as long as prices are above 2,755, with an upside target of 3,520.

Cipla is improving with the rest of the Pharmaceutical sector. If prices are above 636 we want to be long with an upside target of 746.

Dabur India Ltd. blew through our upside target of 454.50, which should act as support now. If prices are above that level we want to be buying weakness and taking profits near 592.50.

Dr. Reddy's Labs continues to carve out a bottom with the Pharma sector. If prices are above 2,220 we want to be long with an upside target of 2,750.

Gail India Ltd. met our target of 398 and momentum is now diverging negatively. We'll continue to watch it for some consolidation, but if prices can close back above 398 we want to be long with an upside target of 553.

Goodrej Consumer Products Ltd. just met our upside objective of 1,442. This is our new risk management level and our target is now 1,800.

Havells India Ltd. just met our target at 715 as momentum started to diverge. While some consolidation would be healthy, we can be long this stock as long as it's above 715 with an upside target of 969.

HCL Technologies is nearing the top of its 3.5-year range. We want to be watching for, and buying, a breakout above 1,058 and targeting 1,275 on the upside.

Housing Development Finance Co. is another name we want to be watching for a potential breakout after a failed attempt last month. If prices can get above 2,036 we want to be long with an upside target of 2,670.

Infosys Ltd. has been on a tear, but the weekly chart is suggesting this move could just be getting started. As the stock consolidates at all-time highs, we want to be buying weakness as long as it's above 1,325 and taking profits near 1,980.

JSW Steel Ltd. is a bit extended, but we want to be buying any weakness back toward 317.50 with an upside target of 464.

Kotak Mahindra is pulling back to support on the weekly chart. If prices are above 1,240 we can be long the stock with an upside target of 1,980.

Larsen & Tourbo is attempting to move higher after several failed breakdowns below support at 1,260. If prices are above that level we want to be long with an upside target of 1,620.

Mahindra & Mahindra is meeting our upside objective at 995. Some consolidation may be in store, but if prices can get above that level then we can be long with an upside target of 1,270.

We want to be buying weakness in Marico Ltd. if it's above 350 with an upside target of 424.

Pirimal Enterprise is back toward the top of its 15-month range and is making new all-time highs. Our tactical target of 3,260 is close to being hit, but if prices can get above that level then our next target is up near 4,435.

Pidilite Industries is a name we want to be buying on weakness if prices are above 1,095 with an upside target of 1,420.

Reliance Industries Ltd. is a bit extended from our original risk management level of 1,135, so if you want to keep a tighter leash on your trade you can use 1,290 to trade against. If prices are above that level, then our upside objective remains 1,590.

Sun Pharma has been the clear leader in the Pharma Sector bottoming process. If prices are above 597 we want to be long with a target of 726.

Tata Consultancy hit our upside target of 2,055 and is continuing higher. If prices are above that level, we can be long with an upside target of 2,690.

Tech Mahindra is attempting a breakout from its 3-year base. If prices are above 747 we want to be long with a target of 988.

Shorts:

Hero Motocorp Ltd. is breaking support once again with momentum in a bearish range. If prices are below 3,270 we can be short with a downside target of 2,875.

If prices are below 276 in Hindustan Petroleum Corporation, we can be short with a downside target of 198.

Idea Cellular Ltd. is a name we want to be fading as long as prices are below 65.75 with a downside target of 36.80.

We can be selling strength in Interglobe Aviation Ltd. as long as prices are below 1,085 with a target of 815.

Bharat Electronics is another name we want to be fading if prices are below 130.55 with a target of 91.50.

We can be short Bharti Infratel Ltd. on a break of 281.50, with a downside target of 215.

Indian Oil Corporation Ltd. can also be sold short if prices are below 160.75 with a downside target of 117.25.

NHPC Ltd. is another stock we want to be fading if prices are below 26 with a downside target of 22.80.

If prices break below 775 in Sun TV Networks then we can be short with a downside target of 580.

The last short on our list is Vedanta Ltd., which we want to be short if prices are below 242 with a downside target of 172.

Thanks for reading and let us know if you have any questions.

Allstarcharts Team