Top Five trading strategies for the coming week

Adani Power Ltd: 'BUY' for a target of Rs 55, keeping stop loss placed at Rs 47.80

The price of Adani Power has been declining from the highs of Rs 69.75 to the lows of Rs38.25, since then the stock has been trading sideways. With Friday's up move, the stock has registered breakout from this consolidation.

The stock has been sustaining above its cluster of moving averages and with Friday's smart gain the stock has also closed above its long-term moving average as well as above its upper end of Bollinger band. The momentum indicator is also in a rising mode. Traders can look to buy now with a stop loss placed below Rs 47.80 levels for upside targets of Rs 55 /58 levels.

VRCL Infra Ltd: 'BUY' with a target of Rs 23.55, keeping a stop loss of Rs 20.80

The share price of IVRCL Infra has been trading in a sideways range after witnessing a fall from the highs of Rs 47.40 to the lows of Rs 17.60 levels. In this week stock has registered breakout from its sideways consolidation range on the back of rising volumes.

On the daily chart the stock has registered breakout from symmetrical triangle pattern. Currently the stock has closed above its cluster of moving averages as well as upper end of Bollinger band. The RSI momentum indicator has been taking support from 40 levels and registered breakout indicating change in the bullish trend.

Traders can create long position now with a stop placed below Rs 20.80 levels, for the targets of Rs 23.55 /26.50 levels.

IDFC Ltd: 'BUY' for a target of Rs 168.50, keeping stop loss at Rs 158.80

The share price of IDFC has fallen from the highs of Rs 185.30 to the lows of Rs 135.10 levels, since then the stock is trading in a sideways range. This sideways momentum has taken a form of an inverted head and shoulder pattern. In this week stock has registered breakout from this pattern.

On the weekly chart stock has formed a rising three candlestick pattern, indicating continuation of a bull trend. The stock has taken support from its cluster of moving averages and currently the stock is trading above its upper end of Bollinger band. The momentum indicator is also rolling upward.Traders can create long position now and again on dips up to Rs 161 --162 with a stop placed below Rs 158.80 levels, for the targets of Rs 168.50 /174 levels.

Colgate Palmolive India Ltd: 'SELL' for a target of Rs 1430, keeping stop loss at Rs 1522.60

The share price of COLPAL has taken support from its 200 days moving average and since then the stock has been rising. In this week stock has found resistance at Rs 1557 levels. On the weekly line chart the stock has formed double top formation.

On the weekly candlestick chart the stock has formed a bearish engulfing pattern, confirming the bearish chart pattern. The short term momentum indicator has also registered bearish crossover.

Traders can create 50% short position now and again on rise up to Rs 1495 -- 1500 with a stop placed above Rs 1522.60 levels, for the targets of Rs 1430 /1380 levels.

Unitech Ltd: 'BUY' for a target of Rs 32.25, keeping stop loss at Rs 29.80

The share price of Unitech has been trading sideways after witnessing fall from the highs ofRs 40.90 to the lows of Rs 21.55 levels. Currently the stock is forming an inverted head and shoulder pattern.

On the daily chart the stock is sustaining above its cluster of moving averages and closed above upper end of Bollinger band. The momentum indicator is also rising.

We recommend buy now and again on dips up to Rs 29.80 - 30.20 with a stop loss placed below Rs 29.20 for the targets of Rs 32.25 /34 levels.