 "Stock picks from Motilal Oswal Securities")
Nifty Outlook
'Nifty is gyrating in range of 6900 to 7250. Doji on daily scale indicates indecisiveness. Momentum to slow down for some time. Follow through move above 7250 could see momentum pick-up else it may remain oscillating within the range
TCS
Reco: BUY
Target : Rs 2420
‘Positive sector outlook. The recent rebound saw a Bullish Harami pattern formation coupled with a positive divergence on the RSI oscillator. The setup provides an opportunity to create fresh longs around 2390-2310 levels with a stop below Rs 2250 & an initial target up to Rs 2420
Pidilite Ind.
Reco: BUY
Last Close:Rs 620
Target : Rs 700
Breakout from a yearlong consolidation with rising volumes indicates strong directional move in the offing. Pidilite Industries could be participated around 615-620 with a stop at Rs 580 & a target up to Rs 700.
AJANTA PHARMA
Reco: SELL
Last Close: Rs 1282
Target : Rs 1150
Stock has been trending down & facing severe selling pressure near its 200 days EMA. Breakdown from the cluster and retesting of same, indicates weakness to continue. Ajanta Pharma future could be sold short with a stop at Rs 1340 for a target upto Rs 1150.
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 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
'Nifty is gyrating in range of 6900 to 7250. Doji on daily scale indicates indecisiveness. Momentum to slow down for some time. Follow through move above 7250 could see momentum pick-up else it may remain oscillating within the range
TCS
Reco: BUY
Also Read
Last Close: Rs 2310
Target : Rs 2420
‘Positive sector outlook. The recent rebound saw a Bullish Harami pattern formation coupled with a positive divergence on the RSI oscillator. The setup provides an opportunity to create fresh longs around 2390-2310 levels with a stop below Rs 2250 & an initial target up to Rs 2420
Pidilite Ind.
Reco: BUY
Last Close:Rs 620
Target : Rs 700
Breakout from a yearlong consolidation with rising volumes indicates strong directional move in the offing. Pidilite Industries could be participated around 615-620 with a stop at Rs 580 & a target up to Rs 700.
AJANTA PHARMA
Reco: SELL
Last Close: Rs 1282
Target : Rs 1150
Stock has been trending down & facing severe selling pressure near its 200 days EMA. Breakdown from the cluster and retesting of same, indicates weakness to continue. Ajanta Pharma future could be sold short with a stop at Rs 1340 for a target upto Rs 1150.
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 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