Sell Colgate, Buy BEML and Crompton Greaves

Colgate Palmolive

 

Colgate Palmolive has almost given up all the gains made by it in the last one month and now looking weak. This is also confirmed by the increase in Open Interest, which indicates further downside. With this anticipation, sell call on Colgate Palmolive is generated with recommended price of 1180. Stop-loss can be placed at 1215 from where renewed upward trend can be confirmed, while target prices can be placed at 1150 and 1125 where two support levels are created in the past by the stock.

 

Buy BEML and Crompton Greaves

Both the stocks have seen short-covering, which is confirmed by the decrease in Open Interests. For Crompton Greaves, Open Interest declined by 22% while for BEML, it has declined by 20%. This trend is likely to continue till Wednesday and hence, we may see some more upward trend in the stock. With this view, buy calls on BEML and Crompton Greaves have been generated.

 

For Crompton Greaves, it can be bought at 123 with strict stop-loss of 121.80 and target prices of 125 and 130.

 

For BEML, it can be bought for 313 with stop-loss of 305 and target price of 325.

 

Wishing you a great day of trading tomorrow!!