 "Stock picks from Motilal Oswal: Buy Maruti Suzuki, Petronet LNG ; Sell Cadila Healthcare")
Nifty Outlook
'Spike' on the daily scale is the first sign of an approaching bottom. The momentum oscillator compliments the setup as it enters the oversold zone. An exact bottom is difficult to predict but downside seems limited to the tune of few hundred points from here. With this view, for investors it seems to be an excellent opportunity to nimble with some long positions / bottom fish with adequate protection in hand which could be helpful to negotiate the existing volatile scenario. Traders could await until a firm reversal sign is evident in the immediate future.
MARUTI SUZUKI
Reco: BUY
Last Close: Rs 4236.0
Maruti is quoting near its 200 days EMA & a ‘Bullish Engulfing’ pattern re-confirms this support. Maruti could be participated with a stop below Rs 4170 for an up move till Rs 4450.
Petronet LNG
Reco: BUY
Last Close: Rs 248
Target : Rs 275
Positive sector outlook & the continuation pattern on the daily scale augurs well for the secular uptrend to remain intact. Petronet LNG could be participated with a stop below Rs 240 for a target upto Rs 275.
Cadila Healthcare
Reco: SELL
Last Close: Rs 301
Target : Rs 270
Negative sector outlook & a fresh breakdown from the continuation pattern indicates momentum to accelerate further. Cadila could be short sold with a stop at Rs 312 & a target upto Rs 270.
Disclaimer : Motilal Oswal Securities Limited is registered under SEBI (Research Analysts) Regulation 2014 SEBI Registration No :-INH000000412. 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. Its subsidiaries and affiliates. Unauthorized use is prohibited and subject to criminal and civil penalties. Individuals using this computer system are subject, to having all of their activities on this system monitored and recorded, by systems personnel fsdfsd
business associates of Motilal Oswal Financial Services Limited (MOFSL). 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' on the daily scale is the first sign of an approaching bottom. The momentum oscillator compliments the setup as it enters the oversold zone. An exact bottom is difficult to predict but downside seems limited to the tune of few hundred points from here. With this view, for investors it seems to be an excellent opportunity to nimble with some long positions / bottom fish with adequate protection in hand which could be helpful to negotiate the existing volatile scenario. Traders could await until a firm reversal sign is evident in the immediate future.
MARUTI SUZUKI
Reco: BUY
Last Close: Rs 4236.0
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Target : Rs 4450
Maruti is quoting near its 200 days EMA & a ‘Bullish Engulfing’ pattern re-confirms this support. Maruti could be participated with a stop below Rs 4170 for an up move till Rs 4450.
Petronet LNG
Reco: BUY
Last Close: Rs 248
Target : Rs 275
Positive sector outlook & the continuation pattern on the daily scale augurs well for the secular uptrend to remain intact. Petronet LNG could be participated with a stop below Rs 240 for a target upto Rs 275.
Cadila Healthcare
Reco: SELL
Last Close: Rs 301
Target : Rs 270
Negative sector outlook & a fresh breakdown from the continuation pattern indicates momentum to accelerate further. Cadila could be short sold with a stop at Rs 312 & a target upto Rs 270.
Disclaimer : Motilal Oswal Securities Limited is registered under SEBI (Research Analysts) Regulation 2014 SEBI Registration No :-INH000000412. 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. Its subsidiaries and affiliates. Unauthorized use is prohibited and subject to criminal and civil penalties. Individuals using this computer system are subject, to having all of their activities on this system monitored and recorded, by systems personnel fsdfsd
business associates of Motilal Oswal Financial Services Limited (MOFSL). 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