 "Stock picks from Motilal Oswal Securities")
Nifty Outlook
‘Spike’ at the lower end of the Wedge pattern augurs well for the termination of the down move. Positive divergence on the RSI compliments the reversal & a move above Rs 7,500 could amplify the up move. Traders could reduce their protection once above Rs 7,500 & build additional longs to participate the up move.
AXIS BANK: BUY
Last Close: Rs 421
Stop Loss: Rs 395
'Bullish Engulfing' pattern re-confirms the medium term support near Rs 360 to remain intact. Positive sector outlook & the proximity towards the medium term support provide a good opportunity to create portfolio longs. Traders could participate the current momentum with a stop loss at Rs 395 & expect an extension upto Rs 500.
PETRONET LNG: BUY
Last Close: Rs 251
Target : Rs 280
Positive sector outlook with a 'Rising Three' pattern on the weekly scale augur well for the secular uptrend to remain intact. Petronet LNG could also be traded with a stop at Rs 240 & an initial target upto Rs 280 could be expected soon.
UNITED SPIRITS (MCDOWELL-N): BUY
Last Close: Rs 2700
Target : Rs 3100
'Piercing Line' at the lower extreme of the oscillation is in conjunction with the retracement support of the previous upmove. The setup provides a healthy reward to risk opportunity to create fresh longs with a stop loss at Rs 2610 & an immediate target upto Rs 3100 (Upper End of Oscillation).
Disclaimer: Motilal Oswal Securities ( MOSL ) is regulated by the Securities and Exchange Board of India ("SEBI") and is licensed to carry on the business of broking, depository services and related activities.Motilal Oswal Securities Limited is registered under SEBI (Research Analysts) Regulation 2014 SEBI Registration No :-INH000000412.MOSL, the spokesperson or his relatives, do not have financial interest in the securities mentioned above. MOSL or its associate might be involved in market making for the subject company or have potential conflict of interest.
Shubham Agarwal is a head of Quantitative Research, Motilal Oswal Securities
‘Spike’ at the lower end of the Wedge pattern augurs well for the termination of the down move. Positive divergence on the RSI compliments the reversal & a move above Rs 7,500 could amplify the up move. Traders could reduce their protection once above Rs 7,500 & build additional longs to participate the up move.
AXIS BANK: BUY
Last Close: Rs 421
More From This Section
Target : Rs 500
Stop Loss: Rs 395
'Bullish Engulfing' pattern re-confirms the medium term support near Rs 360 to remain intact. Positive sector outlook & the proximity towards the medium term support provide a good opportunity to create portfolio longs. Traders could participate the current momentum with a stop loss at Rs 395 & expect an extension upto Rs 500.
PETRONET LNG: BUY
Last Close: Rs 251
Target : Rs 280
Positive sector outlook with a 'Rising Three' pattern on the weekly scale augur well for the secular uptrend to remain intact. Petronet LNG could also be traded with a stop at Rs 240 & an initial target upto Rs 280 could be expected soon.
UNITED SPIRITS (MCDOWELL-N): BUY
Last Close: Rs 2700
Target : Rs 3100
'Piercing Line' at the lower extreme of the oscillation is in conjunction with the retracement support of the previous upmove. The setup provides a healthy reward to risk opportunity to create fresh longs with a stop loss at Rs 2610 & an immediate target upto Rs 3100 (Upper End of Oscillation).
Disclaimer: Motilal Oswal Securities ( MOSL ) is regulated by the Securities and Exchange Board of India ("SEBI") and is licensed to carry on the business of broking, depository services and related activities.Motilal Oswal Securities Limited is registered under SEBI (Research Analysts) Regulation 2014 SEBI Registration No :-INH000000412.MOSL, the spokesperson or his relatives, do not have financial interest in the securities mentioned above. MOSL or its associate might be involved in market making for the subject company or have potential conflict of interest.
Shubham Agarwal is a head of Quantitative Research, Motilal Oswal Securities