Chart Check from IIFL for Monday, July 2nd: Tata Coffee, Kotak Bank

We have compiled technical recommendations from Ashish Chaturmohta, Vice President – Derivatives & Technical Analyst, IIFL Private Wealth Management for 3-5 days.

1) Tata Coffee is a 'BUY' call with a target of Rs 985 and a stop loss of Rs 910

Tata Coffee after a long consolidation between Rs 800 and 900 levels for fourteen long weeks has given a breakout. Now, sustaining at current levels, the stock can retest it’s all time high around Rs 1,025 levels.

However, on the downside, the support for the stock is seen around Rs 900 of its breakout levels. The stock is trading above its short term and long term moving averages.




2) Kotak bank is a 'BUY' call with a target of Rs 640 and a stop loss of Rs 575

Kotak Bank after taking support of its rising trendline around Rs 540 levels has witnessed buying participation with rising volumes. It closed near to its highest levels in 50 months indicating strength in the stock.

Sustaining above Rs 600 levels, the stock can see further buying participation and can move towards Rs 660 levels. On the downside, support for the stock is seen around Rs 560 levels.

The stock is trading above its short term and long term moving averages. MACD indicator on its daily chart has given a positive crossover to its signal line, suggesting positive bias.



(The views and recommendations expressed in this section are the analysts' and do not represent those of EconomicTimes.com)