Titan, Havells, Varun Beverages: How to trade these stocks amid results buzz?

Bulls dominated Dalal Street, as key benchmark indices extended gains for straight sixth session on Tuesday, ahead of the outcome of the two-day Fed monetary policy meeting. The BSE Sensex gained 242.27 points, or 0.40 per cent, to close at 61,354.71. The NSE Nifty rose 82.65 points, or 0.46 per cent, to settle at 18,147.65.

Select result-bound stocks including Titan Company, Varun Beverages and Havells India were on traders’ radar during the session. Here is what Pravesh Gour, Senior Technical Analyst at Swastika Investmart has to say on these stocks ahead of Wednesday's trading session:

Varun Beverages | Buy on dips | Target Price: Rs 1,560 | Stop Loss: Rs 1,330
The long-term structure of Varun Beverages is bullish, as the stock is making higher highs and higher lows. The scrip is facing resistance at its all-time high of Rs 1,480. The overall structure looks lucrative, as the stock is trading above its key moving averages. On the downside, the Rs 1,330 level is a major support area. On the upside, the Rs 1,500 levelis acting as an important psychological level; above that, one can expect the level of Rs 1,560 in the near-short term.

Titan Company | Buy | Target Price: Rs 2,800-2,900 | Stop Loss: Rs 2,560
Titan Company has a very bullish chart. It is forming higher highs and higher lows on the daily chart. The overall structure looks lucrative, but the stock is facing multiple resistances in the Rs 2,700–2,760 rnage, above Rs 2,800; one can expect a big rally till Rs 2,900. On the lower side, the Rs 2,560 level is where one can find demand at any correction. Momentum indicators are positively poised to support the current strength.

Havells India | Buy | Target Price: Rs 1,250-1,300 | Stop Loss: Rs 1,200-1,190
Havells India is showing a bottom out with an Inverse Head and Shoulder formation. The stock is facing neckline resistance at the Rs 1,250 level; above this, one can expect a long run-up towards the Rs 1,300 level. On the downside, the Rs 1,200 level is major support at any correction, while Rs 1,190 is the next critical support level. Momentum indicators are positively poised to support the current strength.

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Business Today.)

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